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The relationship between natural resources rents, trade openness and economic growth in Algeria

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  • Helmi Hamdi

    ()
    (Aix-Marseille Université CERGAM (4225), France)

  • Rashid Sbia

    ()
    (DULBEA, Solvay Brussels School of Economics and Management, Belgium)

Abstract

The aim of this paper is to investigate the dynamic relationship between natural resources rents and Algerian economic growth within a trivariate framework by adding trade openness as a third variable. By using cointegration and error correction model techniques, Granger causality tests reveal a bidirectional causal relationship between natural resources rents and economic growth in the short-run and the long-run as well. Moreover, we found a unidirectional causality running from trade to economic growth without any feedback effect.

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Bibliographic Info

Article provided by AccessEcon in its journal Economics Bulletin.

Volume (Year): 33 (2013)
Issue (Month): 2 ()
Pages: 1649-1659

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Handle: RePEc:ebl:ecbull:eb-13-00432

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Keywords: Natural resources rents; Algeria; Trade; Growth; Cointegration; ECT;

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  1. Dickey, David A & Fuller, Wayne A, 1981. "Likelihood Ratio Statistics for Autoregressive Time Series with a Unit Root," Econometrica, Econometric Society, Econometric Society, vol. 49(4), pages 1057-72, June.
  2. Jeffrey D. Sachs & Andrew M. Warner, 1995. "Natural Resource Abundance and Economic Growth," NBER Working Papers 5398, National Bureau of Economic Research, Inc.
  3. Jeffrey D. Sachs, 2003. "Institutions Don't Rule: Direct Effects of Geography on Per Capita Income," NBER Working Papers 9490, National Bureau of Economic Research, Inc.
  4. Johansen, S., 1991. "Testing Weak Exogeneity and the Order of Cointegration in UK Money Demand Data," Papers, Helsinki - Department of Economics 78, Helsinki - Department of Economics.
  5. Doran, Howard E. & Rambaldi, Alicia N., 1997. "Applying linear time-varying constraints to econometric models: With an application to demand systems," Journal of Econometrics, Elsevier, Elsevier, vol. 79(1), pages 83-95, July.
  6. Thorvaldur Gylfason & Gylfi Zoega, 2004. "Natural Resources and Economic Growth: The Role of Investment," DEGIT Conference Papers, DEGIT, Dynamics, Economic Growth, and International Trade c009_011, DEGIT, Dynamics, Economic Growth, and International Trade.
  7. Bélaïd, Fateh & Abderrahmani, Fares, 2013. "Electricity consumption and economic growth in Algeria: A multivariate causality analysis in the presence of structural change," Energy Policy, Elsevier, Elsevier, vol. 55(C), pages 286-295.
  8. Auty, Richard M., 1994. "Industrial policy reform in six large newly industrializing countries: The resource curse thesis," World Development, Elsevier, Elsevier, vol. 22(1), pages 11-26, January.
  9. Johansen, Soren & Juselius, Katarina, 1990. "Maximum Likelihood Estimation and Inference on Cointegration--With Applications to the Demand for Money," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, Department of Economics, University of Oxford, vol. 52(2), pages 169-210, May.
  10. Hamdi, Helmi & Sbia, Rashid, 2013. "Dynamic relationships between oil revenues, government spending and economic growth in an oil-dependent economy," Economic Modelling, Elsevier, Elsevier, vol. 35(C), pages 118-125.
  11. Solow, Robert, 1993. "An almost practical step toward sustainability," Resources Policy, Elsevier, Elsevier, vol. 19(3), pages 162-172, September.
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