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The Multidimensional Indicator of Extractives-based Development (MINDEX): A new approach to measuring resource wealth and dependence by Amir Lebdioui is a Economics, Econometrics and Finance article available to read on EtoBox.

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Despite the vast amount of academic work estimating the impact of natural resources on development, very little attention has been devoted to the implications of using one type of natural resource measurement over another. This study fills this important gap in two ways. Firstly, it puts forward the biases and statistical misconceptions associated with different measurements of resource wealth, which have often led to the wrong classification of resource-poor countries as resource-rich and vice versa. As a result of the limitations of existing measurements, the discourse around extractives-based development has tended to lump various countries together, considering them all to be 'resource-rich', which is misleading. Instead, this paper shows that resource wealth and dependence are multifaceted. Secondly, in contrast to the conventional measurements that have relied on different indicators of resource wealth in isolation from one another, this study sheds light on the need for a multidimensional approach to measuring resource endowment. I propose a new indicator, the MINDEX, which weights six different variables of both resource abundance and dependence across several dimensions (e

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Author

Amir Lebdioui

Publisher

Elsevier BV

Published

2021

Language

EN

Field

Economics, Econometrics and Finance (Social Sciences)