| Resource-Economic Growth Nexus, Role of Governance, Financial Development, Globalization, and War: A Dynamic Approach |
Zahra Jalili, Mohammad Reza Salmani Bishak, Mohammad Ali Motafakker Azad, Behzad Salmani, Jaafar Haghighat |
| University of Tabriz, Iran |
|
Corresponding Author:
Zahra Jalili ,Tel: +989358043365, Email: jalili_zahra@ymail.com |
| Copyright ©2019 Journal of Economic Integration |
| ABSTRACT |
|
This study reassesses the resource-economic growth nexus by incorporating several channels. Panel time series techniques are used to analyze panel time series data from 1980 to 2015 in 31 oil-rich countries. The results show that oil rent augments economic growth; thus, oil rent is conducive for, rather than an impediment to, economic growth. The role of governance in economic growth is significant in the examined countries. Financial development is an unimportant channel in the resource-growth nexus because it is often unable to mobilize oil rent from the government to the private sector in oil-rich countries. Globalization is advantageous for countries as it promotes economic growth. Finally, war exerts a significant negative effect on growth in the long term.
JEL Classification
C61: Optimization Techniques; Programming Models; Dynamic Analysis
F60: General
G10: General
H56: National Security and War
O13: Agriculture; Natural Resources; Energy; Environment; Other Primary Products
O43: Institutions and Growth |
| Keywords:
Resource | Economic Growth | Governance | War | Cross-sectionally Augmented Distributed Lag (CS-ARDL)
|
|
|
|
|
|
PDF Links
Full text via DOI
Download Citation 
Print 
