IDEAS home Printed from https://ideas.repec.org/p/aer/rpaper/rp_170.html
   My bibliography  Save this paper

Oil Wealth and Economic Growth in Oil Exporting African Countries

Author

Listed:
  • Olomola Philip Akanni

Abstract

This study analyses the effect of oil rents on economic growth in oil exporting African countries. It also attempts to provide both theoretical and empirical analysis of the channels of transmission of resource curse of natural resources on growth in these countries. It adopts a panel data regression analysis for the period 1970 to 2000 for 47 oil exporting countries including Africa, and 13 non-oil exporting countries. The major findings are that there was evidence of resource curse in oil exporting countries, including oil exporting African countries, exchange rate and the Dutch disease syndrome do not explain the resource curse in these countries, including Africa, the absence of democracy in oil exporting countries hinders economic growth, and the despicable state of institutions in oil exporting countries encourage grabbing of public resources and oil rents through rent seeking hence retarding economic growth. The basic conclusion from this study is that for oil exporting African countries, as for other oil exporting countries, oil rents have failed to promote growth.

Suggested Citation

  • Olomola Philip Akanni, 2007. "Oil Wealth and Economic Growth in Oil Exporting African Countries," Research Papers RP_170 Key words: Oil, we, African Economic Research Consortium.
  • Handle: RePEc:aer:rpaper:rp_170
    as

    Download full text from publisher

    File URL: http://www.aercafrica.org/documents/RP_170.pdf
    Download Restriction: no

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:aer:rpaper:rp_170. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Steven Kinuthia). General contact details of provider: http://edirc.repec.org/data/aerccke.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.