Modelling Natural Resources, Oil and Economic Growth in Africa

Janda, Karel and Quarshie, Gregory (2017): Modelling Natural Resources, Oil and Economic Growth in Africa.

Abstract

Using panel data from 1980 to 2010 on 34 sub-Saharan African countries, this paper examines whether institutionalised authority, which is a proxy for state authority, can change the negative relationship between natural resources and economic growth. The key finding is that, institutionalised authority can alter the negative relationship that exists between natural resources and economic growth. We also model the relationship between the oil revenue (fuel exports) and economic growth, and how institutionalised authority can alter this relationship as well.

• Item Type: MPRA Paper
• Language: English
• Keywords: Economic Growth; Natural Resources; Oil; Institutions; Dutch Disease; Sub-Saharan Africa
• Subjects: C - Mathematical and Quantitative Methods > C3 - Multiple or Simultaneous Equation Models ; Multiple Variables > C33 - Panel Data Models ; Spatio-temporal Models; O - Economic Development, Innovation, Technological Change, and Growth > O4 - Economic Growth and Aggregate Productivity > O43 - Institutions and Growth; P - Economic Systems > P5 - Comparative Economic Systems > P52 - Comparative Studies of Particular Economies; Q - Agricultural and Natural Resource Economics ; Environmental and Ecological Economics > Q4 - Energy > Q43 - Energy and the Macroeconomy

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