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On the transmission channels for the resource curse

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Listed:
  • K. Peren Arin
  • Elias Braunfels
  • Christina Zenker

Abstract

Recent literature shows that oil revenues may have a positive effect on long-run economic growth. However, there is no clear evidence for such an effect in the medium-run, suggesting the existence of a so-called resource-curse in the medium-run. Taking this as a starting point, we investigate all the transmission channels through which oil revenues can retard growth in the medium-run within a Bayesian Model Averaging (BMA) framework. Our results show that oil revenues have indeed a negative effect on the medium-run economic growth, which is transmitted through medium-term trends in oil prices and (poor) institutional quality.

Suggested Citation

  • K. Peren Arin & Elias Braunfels & Christina Zenker, 2019. "On the transmission channels for the resource curse," CAMA Working Papers 2019-67, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    • Handle: RePEc:een:camaaa:2019-67
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    File URL: https://cama.crawford.anu.edu.au/sites/default/files/publication/cama_crawford_anu_edu_au/2019-09/67_2019_arin_brunfels_zenker.pdf
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