Abstract: Foreign direct investment (FDI) and trade openness are well known as the driving forces of economic growth and development. Over the past few decades, the level of globalization has heightened the significance of international capital flows and trade integration in the developed as well as the developing economies. Countries with good resources are known to rely a lot on foreign investment and trade in order to boost economic growth and development. The impacts of these economic factors might however differ depending on the nature of natural resources that a country has.