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The resource curse, rule of law and accountability in African countries: a dynamic panel analys

Author

Listed:
  • Riccardo Marchi Adani

    (University of Verona)

  • Roberto Ricciuti

    (University of Verona, CESifo and ESID)

Abstract

We investigate the resource curse phenomenon using the African Governance Index that ranks African countries according to their governance quality. First, we allow countries to endogenously select in good- and bad-governance groups. Secondly, using an Arellano-Bond dynamic panel-data estimation, we analyze the effect on bad-governance countries of the endowment taking into account (i) that institutional quality today depends on institutional quality in recent years and (ii) that the resource endowment today will produce a lagged effect on institutional quality. Our findings confirm the existence of the resource curse problem.

Suggested Citation

  • Riccardo Marchi Adani & Roberto Ricciuti, 2014. "The resource curse, rule of law and accountability in African countries: a dynamic panel analys," Economics Bulletin, AccessEcon, vol. 34(3), pages 1905-1916.
    • Handle: RePEc:ebl:ecbull:eb-13-00725
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    References listed on IDEAS

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    1. Paul Collier & Benedikt Goderis, 2007. "Prospects for Commodity Exporters," World Economics, World Economics, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE, vol. 8(2), pages 1-15, April.
    2. Frederick van der Ploeg, 2011. "Natural Resources: Curse or Blessing?," Journal of Economic Literature, American Economic Association, vol. 49(2), pages 366-420, June.
    3. Halvor Mehlum & Karl Moene & Ragnar Torvik, 2006. "Institutions and the Resource Curse," Economic Journal, Royal Economic Society, vol. 116(508), pages 1-20, January.
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    Cited by:

    1. Chiroleu-Assouline, Mireille & Fodha, Mouez & Kirat, Yassine, 2020. "Carbon curse in developed countries," Energy Economics, Elsevier, vol. 90(C).
    2. Tania Masi & Roberto Ricciuti, 2016. "Oil discoveries and democracy," WIDER Working Paper Series 057, World Institute for Development Economic Research (UNU-WIDER).
    3. Tania Masi & Roberto Ricciuti, 2016. "Oil discoveries and democracy," WIDER Working Paper Series wp-2016-57, World Institute for Development Economic Research (UNU-WIDER).
    4. Nicolas Clootens & Djamel Kirat, 2017. "A Reappraisal of the Resource Curse," Economics Bulletin, AccessEcon, vol. 37(1), pages 12-18.

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    Keywords

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    JEL classification:

    • Q3 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development

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