MINERAL-RESOURCES AND GROWTH - TOWARDS A LONG-TERM CONVERGENCE

Endogenous growth theories have paid insufficient attention to pattern s of growth within subgroups of developing countries. Partly drawing o n these theories, a mixed endogenous growth-technology diffusion model is formulated with regard to developing mineral economies, The model envisages an S-shaped double convergence long-term equilibrium, with t he flex point possibly lying above the corresponding point for non-min eral economies, The performance of a mineral economy is assumed to dep end, among other factors, on the growth and instability of its main mi neral commodity export price. The model is tested on cross-country dat a.