Does oil abundance harm growth?

@article{Cavalcanti2011DoesOA,
  title={Does oil abundance harm growth?},
  author={Tiago V. de. V. Cavalcanti and Kamiar Mohaddes and M. Raissi},
  journal={Applied Economics Letters},
  year={2011},
  volume={18},
  pages={1181 - 1184}
}
This article explores whether natural resource abundance is a curse. Our results reveal that oil abundance has a positive effect on both long-run income levels and short-run economic growth. 
View on Taylor & Francis
51 Citations
Highly Influential Citations
3
Background Citations
19
Methods Citations
6
Results Citations
9

51 Citations

Citation Type

Citation Type

Algeria and the natural resource curse: oil abundance and economic growth
In this paper, we examine the interaction between oil exports’ revenues and long-run economic growth in Algeria over the period 1979–2013. Advanced econometric procedures including the cointegration… Expand
Understanding and Avoiding the Oil Curse in Resource-rich Arab Economies
For over eighty years the Arab region has derived massive wealth from its natural resources, yet the region's economies remain little diversified, while the oil market is experiencing major… Expand
Commodity price volatility
High and volatile commodity prices have returned as a significant global issue, with the prices of many commodities returning to around their mid-2008 peaks. This paper provides an overview of the… Expand
Institutional Quality and the Resource Curse
In many resource endowed countries, hydrocarbon endowment is associated with poor socioeconomic performance, a condition often called the Resource Curse. However, there is little consensus on the… Expand
Oil, Volatility and Institutions: Cross-Country Evidence from Major Oil Producers
This paper examines the long-run effects of oil revenue and its volatility on economic growth as well as the role of institutions in this relationship. We collect annual and monthly data on a sample… Expand
Resource-Economic Growth Nexus, Role of Governance, Financial Development, Globalization, and War: A Dynamic Approach
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… Expand
Assessing alternative options for allocating oil revenue in Iran
The present paper focuses on medium-term effects of alternative windfall management strategies for a resource abundant country where the resource revenues are expected to last over a prolonged… Expand
The impact of mineral resources on economic growth
The paradoxical effect of natural resources and especially minerals on economic performance has been the topic of several studies throughout the years. The aim of this paper is to determine the… Expand
Global boom, local impacts: Mining revenues and subnational outcomes in Peru 2007-2011
The relationship between the abundance of natural resources and socio-economic performance has been a main object of study in the economic development field since Adam Smith. Dominated by the… Expand
Do Sovereign Wealth Funds Dampen the Negative Effects of Commodity Price Volatility?
This paper studies the impact of commodity terms of trade (CToT) volatility on economic growth (and its sources) in a sample of 69 commodity-dependent countries, and assesses the role of Sovereign… Expand
...
1
2
3
4
5
...

References

SHOWING 1-10 OF 16 REFERENCES
Natural Resource Abundance and Economic Growth
One of the surprising features of modern economic growth is that economies with abundant natural resources have tended to grow less rapidly than natural-resource-scarce economies. In this paper we… Expand
Growth, Development and Natural Resources: New Evidence Using a Heterogeneous Panel Analysis
This paper explores whether natural resource abundance is a curse or a blessing. To do so, we firstly develop a theory consistent econometric model, in which we show that there is a long run… Expand
Institutions and the Volatility Curse
This paper revisits the resource curse paradox and studies the impact of resource rents and their volatility on economic growth under varying institutional quality. Using five-year non-overlapping… Expand
One Hundred Years of Oil Income and the Iranian Economy: A Curse or a Blessing?
This paper examines the impact of oil revenues on the Iranian economy over the past hundred years, spanning the period 1908-2010. It is shown that although oil has been produced in Iran over a very… Expand
Commodity Price Volatility and the Sources of Growth
This paper studies the impact of the level and volatility of commodity terms of trade on economic growth, as well as on the three main growth channels: total factor productivity, physical capital… Expand
An Empirical Growth Model for Major Oil Exporters
This paper develops a long-run growth model for a major oil exporting economy and derives conditions under which oil revenues are likely to have a lasting impact. This approach contrasts with the… Expand
Leader Behavior and the Natural Resource Curse
We discuss political economy mechanisms which can explain the resource curse, in which an increase in the size of resource rents causes a decrease in the economy’s total value added. We identify a… Expand
The Resource Curse Revisited and Revised: A Tale of Paradoxes and Red Herrings
We critically evaluate the empirical basis for the so-called resource curse and find that, despite the topic's popularity in economics and political science research, this apparent paradox may be a… Expand
The Global Impact of the Systemic Economies and MENA Business Cycles
This paper analyzes spillovers from macroeconomic shocks in systemic economies (China, the Euro Area, and the United States) to the Middle East and North Africa (MENA) region as well as outward… Expand
Estimating Long-Run Relationships From Dynamic Heterogeneous Panels
In panel data four procedures are widely used: pooling, aggregating, averaging group estimates, and cross-section regression. In the static case, if the coefficients differ randomly, all four… Expand
...
1
2
...