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Erschienen in:
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2017 | OriginalPaper | Buchkapitel

3. Transmission Channels of the ‘Resource Curse’ Reappraised

verfasst von : Khazal Abdullah Auzer

Erschienen in: Institutional Design and Capacity to Enhance Effective Governance of Oil and Gas Wealth: The Case of Kurdistan Region

Verlag: Springer Singapore

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Abstract

This chapter reappraises the negative relationship between natural resources and economic growth by applying empirical cross-sectional and panel data analysis. The empirical results show the importance of economic, political and social transmission mechanisms of the resource curse with regard to the different types of natural resource, particularly in fuel-exporting countries. The results of both cross-sectional and panel data models indicate that high economic dependence on fuel exports leads to lower economic performance. Main findings show that the effect of institutions is lower in highly fuel-dependent countries than in those with economies less reliant on fuel export revenues. Moreover, the economic performance of fuel-dependent economies is more likely to suffer from the detrimental effects of the resource curse.

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Vorheriges Kapitel Challenges in Petroleum Rich Countries
Nächstes Kapitel Lessons from Other Petroleum-Rich States
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Fußnoten
1
Another way is to apply a generalized Tobit (Heckman two-step) or count data model with zero-inflation. In the two-step procedure, first one estimates a Probit model of the determinant of natural resources and then in the second step the degree of dependence/growth effect to correct for selection bias. The use of a count data model accounts for the large number of zeros in the data.
 
2
The Stata software includes options with most rotines for estimating robust standard errors using the ‘vce (rebust)’ command.
 
3
Another common way of capturing non-linearity in the relationship, in addition to the interactive effects, is to add squares of the key variables. The negative/positive sign of interaction will indicate substitution/complementarity among the input variables. The squares indicate non-linearity in the relationship. The non-linearity can be direct or indirect.
 
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Metadaten
Titel
Transmission Channels of the ‘Resource Curse’ Reappraised
verfasst von
Khazal Abdullah Auzer
Copyright-Jahr
2017
Verlag
Springer Singapore
Buch
Institutional Design and Capacity to Enhance Effective Governance of Oil and Gas Wealth: The Case of Kurdistan Region

Print ISBN: 978-981-10-4517-2

Electronic ISBN: 978-981-10-4518-9

Copyright-Jahr: 2017

DOI
https://doi.org/10.1007/978-981-10-4518-9_3