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De l’instabilité macro-économique à la malédiction des ressources naturelles

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  • Majda Seghir

Abstract

In this work, we reconsider the hypothesis of the oil curse literature in the light of macroeconomic instability as the main driver of the curse in oil exporting countries. Based on a gradual regime switching model, we examine the potential nonlinearities in the economic growth's responsiveness to macroeconomic instability within a panel smooth transition regression model. Our findings highlight a nonlinear and negative impact of real exchange rate appreciation, high public expenditures and price instability on economic growth. These effects are amplified in highly oil dependent countries.

Suggested Citation

  • Majda Seghir, 2017. "De l’instabilité macro-économique à la malédiction des ressources naturelles," Mondes en développement, De Boeck Université, vol. 0(3), pages 31-44.
    • Handle: RePEc:cai:meddbu:med_179_0031
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