The Impact of Natural Resources on the Economic Growth of Selected Developing Countries Considering the Role of Institutional Quality and Human Capital

One of the current issues that has affected economic growth is the abundance of natural resources in countries that have natural resources. In economic studies, the impact of natural resource abundance on economic growth has been widely studied, and some existing empirical studies indicate a negative relationship between natural resource abundance and economic growth. The purpose of this article is to investigate the impact of natural resource abundance on the economic growth of twenty selected developing countries, taking into account the role of institutional quality and human capital, during the period 1995-2019. According to the results, natural resources income has a significant negative impact on the economic growth of selected developing countries and institutional quality, total investment and human capital index have a positive and significant impact on the economic growth of selected developing countries. According to the research findings, it seems that the abundance of natural resources through the backwardness of human capital and the weakness of governance institutions has caused the backwardness of the countries under development.