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Does the resource curse exist? Evidence from oil discovery and production in Ghana

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  • Akalbeo, Benard

Abstract

Over the years, countries across the world have made significant discoveries of various forms of natural resources. The most important, valuable, and problematic of all these discovered resources is arguably oil. This paper investigates the impact that the oil discovery in Ghana in 2007 and its subsequent production has had on the economic growth as well as the unemployment rate of the country. Using the synthetic control method for comparative case studies approach, we exploit the quasi-experimental nature of the discovery which was due to an exogenous shock.

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  • Akalbeo, Benard, 2025. "Does the resource curse exist? Evidence from oil discovery and production in Ghana," Resources Policy, Elsevier, vol. 101(C).
    • Handle: RePEc:eee:jrpoli:v:101:y:2025:i:c:s0301420725000017
    DOI: 10.1016/j.resourpol.2025.105459
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    More about this item

    Keywords

    Economic growth; Unemployment rate; Crowding out effect; Quasi-experimental;
    All these keywords.

    JEL classification:

    • Q33 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Resource Booms (Dutch Disease)
    • O44 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Environment and Growth

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