Substitutes or complements? Relationship between natural resources and physical capital – a few stylised facts

Figures & data

Table 1. Descriptive statistics of the sample.

Variable	Description	Mean	Standard deviation	Median	Minimum	Maximum
groil	Average rate of growth of oil consumption	0.018320	0.032442	0.010634	0.052574	0.19365
grgas	Average rate of growth of natural gas consumption	0.052060	0.040957	0.045096	−0.030890	0.16780
grcoal	Average rate of growth of coal consumption	0.041034	0.087525	0.019469	−0.11693	0.39612
grDMC	Average rate of growth of DMC	0.0081533	0.019969	0.0025474	−0.039172	0.10504
avgy	Average rate of economic growth	0.018674	0.019573	0.017330	−0.030460	0.12930
avgk	Average rate of growth of physical capital	0.027673	0.027714	0.025117	−0.034774	0.19522

Source: own calculations.

Figure 1. Scatter plot between rate of economic growth and average rate of resource consumption – oil, natural gas and coal. Source: own calculations.

Figure 2. Scatter plot between the rate of economic growth and the average rate of resource consumption – oil, natural gas and coal, O.E.C.D. countries. Source: own calculations.

Figure 3. Scatter plot between the rate of economic growth and the average rate of resource consumption – oil, natural gas and coal, non-O.E.C.D. countries. Source: own calculations.

Figure 4. Scatter plot between the rate of growth of physical capital and the average rate of resource consumption – oil, natural gas and coal, all countries. Source: own calculations.

Figure 5. Scatter plot between the rate of growth of physical capital and the average rate of resource consumption – oil, natural gas and coal, O.E.C.D. countries. Source: own calculations.

Figure 6. Scatter plot between the rate of growth of physical capital and the average rate of resource consumption – oil, natural gas and coal, non-O.E.C.D. countries. Source: own calculations.

Figure 7. Scatter plot between the rate of economic growth (left) and the rate of growth of physical capital (right) and average rate of growth of DMC, all countries. Source: own calculations.

Figure 8. Scatter plot between the rate of economic growth (left) and the rate of growth of physical capital (right) and average rate of growth of DMC, O.E.C.D. countries. Source: own calculations.

Figure 9. Scatter plot between the rate of economic growth (left) and the rate of growth of physical capital (right) and average rate of growth of DMC, non-O.E.C.D. countries. Source: own calculations.

Table 2. The correlation between the average rate of economic growth or the average rate of growth of physical capital, and the average rate of growth of natural resources use.

Variable	Sample	groil	Noil	grgas	Ngas	grcoal	Ncoal	grDMC	NDMC
avgy	All	0.49	155	0.23	59	0.07	75	0.44	143
avgy	O.E.C.D.	0.68	30	0.24	23	0.005	30	0.62	29
avgy	Non-O.E.C.D.	0.5	125	0.21	36	0.06	45	0.44	114
avgk	All	0.5	155	0.15	59	–0.06	75	0.41	143
avgk	O.E.C.D.	0.66	30	–0.05	23	0.06	30	0.58	29
avgk	Non-O.E.C.D.	0.51	125	0.22	36	–0.04	45	0.40	114

Source: own calculations.