Oil and Growth in Transition Countries
AbstractThis paper examines the impact of oil on economic growth in transition economies of the former Soviet Union and Central and Eastern Europe. I use oil production and reserves data in a series of panel estimations to show that oil has had positive growth effects between 1990-2006, although they appear to be diminishing for very large producers. These positive effects are confirmed when I consider di®erent oil ownership structures. Oil has however had a negative e®ect on human capital formation, and corruption and democracy levels. Additionally, I found that privatisation levels have had positive growth effects, while privatisation speed has had negative effects on growth.
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Bibliographic InfoPaper provided by Oxford Centre for the Analysis of Resource Rich Economies, University of Oxford in its series OxCarre Working Papers with number 029.
Date of creation: 2009
Date of revision:
oil; resource curse; economic growth; transition countries; oil ownership;
Other versions of this item:
- Q32 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Exhaustible Resources and Economic Development
- O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
- O13 - Economic Development, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
- P28 - Economic Systems - - Socialist Systems and Transition Economies - - - Natural Resources; Environment
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