Covi, Giovanni (2013): A case study of an advanced Dutch disease: The Russian oil.
Preview |
PDF
MPRA_paper_46670.pdf Download (38MB) | Preview |
Abstract
The paper aims at investigating the dependency of the Russian economy on natural resources, underlining the causes and the possible consequences of this growth model. The analysis tries to evaluate if the Russian manufacturing has contracted the “Dutch Disease”, that is, if a boom in the oil and gas industry has led to a process of de-industrialization, directly through the resource movement effect and indirectly through the spending effect. In this investigation it will be emphasized the role played by the learning curves as a crucial factor in determining the comparative advantages of a country, and why an excessive reliance on exports of a single product may reduce the welfare of a nation in the long run.
Item Type: | MPRA Paper |
---|---|
Original Title: | A case study of an advanced Dutch disease: The Russian oil |
Language: | English |
Keywords: | Economic development - Dutch disease - Natural Resource Curse – Oil dependence – Industrial policy – Russian economic growth |
Subjects: | E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E52 - Monetary Policy O - Economic Development, Innovation, Technological Change, and Growth > O1 - Economic Development > O11 - Macroeconomic Analyses of Economic Development P - Economic Systems > P2 - Socialist Systems and Transitional Economies > P28 - Natural Resources ; Energy ; Environment Q - Agricultural and Natural Resource Economics ; Environmental and Ecological Economics > Q3 - Nonrenewable Resources and Conservation > Q32 - Exhaustible Resources and Economic Development Q - Agricultural and Natural Resource Economics ; Environmental and Ecological Economics > Q3 - Nonrenewable Resources and Conservation > Q33 - Resource Booms Q - Agricultural and Natural Resource Economics ; Environmental and Ecological Economics > Q4 - Energy > Q43 - Energy and the Macroeconomy Q - Agricultural and Natural Resource Economics ; Environmental and Ecological Economics > Q4 - Energy > Q48 - Government Policy |
Item ID: | 46670 |
Depositing User: | Dott. Giovanni Covi |
Date Deposited: | 02 May 2013 17:30 |
Last Modified: | 29 Sep 2019 14:05 |
References: | Auty R.M., “Industrial Policy Reform in Six Large Newly Industrializing Countries: the Resource Course”, World Development 22, 1994, pp.11 – 26. Auty hR.M, Resource Abundance and Economic Development, Oxford University Press, Oxford, 2001. British Petroleum, Statistical Review of the World Energy, 2011 BorkòTamàs, “The Suspicious of Dutch Disease in Russia and the ability of the government to counteract “, Working Paper No. 35, ICEG European Center, December 2007, pp. 1-22 Brunnschweiler Christa,“Cursing the Blessings? Natural Resource Abundance, Institutions, and Economic Growth”, World Development, 36, No. 3, 2007, pp. 399 – 419 Brunnschweiler Christa and Bulte Erwin, “The resource curse revisited and revised: a tale of paradoxes and herrings”, Journal of environmental economics and management, Vol. 55, February 2008, pp. 248-264 Corden Warner Max,“Booming Sector and Dutch Disease Economics: Survey and Consolidation”, Oxford economic Papers, New series, Vol. 36, No. 3, November 1984, pp. 359-380 Corden Warner Max and Neary J. Peter, “Booming sector and De-industrialization in a Small Open Economy”, The Economic Journal, Vol. 92, No. 368, December 1982, pp. 825-848 Deutsche Bank Research, “Emerging Europe Outlook”, September 2010, pp. 1-27 Égert Balàzs, “Balassa Samuelson Meets South-Eastern Europe, the CIS and Turkey: a Closer Encounter of the Third Kind?”, The European Journal of Comparative Economics, Vol.2, No.2, 2007, pp. 221-243 Egert Balàzs, “Dutch Disease in the Post-Soviet Countries of Central and South-West Asia: How Contagious is it?”, CISifo Working Paper No.4186, April 2013. Eurostat Database, 2012 Ellman M., “Natural Gas, Restructuring and Re-industrialization: the Dutch Experience of Industrial Policy”, Chapter 6, in Oil and Industry, pp.149 – 166 Federal State Statistics Service, 2012 Fetisov Gleb, “The Dutch Disease in Russia”, Problems of Economic Transition, Vol. 50, No. 1, May 2007, pp. 53-73 Gurvits E., ”БЮДЖЕТНАЯИМОНЕТАРНАЯПОЛИТИКАВУСЛОВИЯХНЕСТ АБИЛЬНОЙВНЕШНЕЙКОНЪЮНКТУРЫ “ , Вопросыэкономики №3, 2006 (Fiscal and monetary policy in the conditions of unstable international cyclical situation). Harford Timand, Klein Michael, “Aid and the Resource Curse”, The World Bank Group, Private Sector Development Vice Presidency, Note #291, Washington, DC, 2005 International Monetary Fund, 2005, “Russian Federation: statistical appendix”, IMF Country Report No. 05/378 (Washington: International Monetary Fund) Krugman Paul, “The Narrow Moving band, The Dutch Disease, and the Competitive Consequences of Mrs. Thatcher”, Journal of Development Economics, Vol. 27, 1987, pp. 41-55 Mehlum Halvor and Moene Karl Ove and Torvik Ragnar, “Institutions and the resource curse”, The Economic Journal, Vol. 116, January 2006, pp. 1–20 Myint Hla, “The classical theory of international trade and underdeveloped countries”, The Economic Journal 68, 1968 Neary Peter and Van Wijnbergen Sweder, ”Can Oil Discovery Lead to a Recession? A comment on Eastwood and Variables”, The Economic Journal, Vol. 94, June 1984, pp. 390-395 Oomes Nienke and Kalcheva Katerina, “ Diagnosing Dutch Disease: Does Russia have the symptoms? ”, International Monetary Fund, WP/07/102, April 2007, pp. 1-34 Pasinetti Luigi, Structural Change and Economics Growth: a theoretical essay on the dynamics of the wealth of nations, Cambridge University Press, 1981 Sachs Jaffrey David and Warner Andrew, “Natural Resource Abundance and Economic Growth”, NBER Working Paper 5398, 1995 Skeet Ian, Opec: twenty-five years of prices and politics, Cambridge, Cambridge University Press, 1988 Solanko Laura, “Why energy Efficiency is vitally important for Russia?”, International Association for Energy Economics, 2011, p. 1-52 Spilimbergo Antonio, “Measuring the performance of the fiscal policy in Russia”, 2005, International Monetary Fund, WP/05/241 The Economist, The Dutch Disease, November 26th 1977 The Economist, The Rise of State Capitalism, 21st January 2012, pp. 1-18 The Economist, Economic and Financial Indicators, August 18th, 2012 United Nation Database, 2013 World Bank Database, 2012 |
URI: | https://mpra.ub.uni-muenchen.de/id/eprint/46670 |