IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/46850.html
   My bibliography  Save this paper

Do Sufficient Institutions Alter the Relationship between Natural Resources And Economic Growth?

Author

Listed:
  • Zeynalov, Ayaz

Abstract

The purpose of this paper is to test whether institutional governance and its performance is a main driving force to achieve a positive relationship between natural resources and economic growth in the long run. The main objective is to ascertain what kind of institutional governance would be needed to distribute natural resource wealth in such a way so as to achieve economic stability, and what specific policies are needed to avoid the curse in resource-rich developing countries. The research makes an attempt to interpret the role of institutional governance, as reflected by the indicators, in the context of resource-rich, post-Soviet countries. The main finding is that an abundance of natural resources does not guarantee economic growth, where sustainable economic growth can be guaranteed, only if the resource-rich country has good institutional governance.

Suggested Citation

  • Zeynalov, Ayaz, 2013. "Do Sufficient Institutions Alter the Relationship between Natural Resources And Economic Growth?," MPRA Paper 46850, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:46850
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/46850/1/MPRA_paper_46850.pdf
    File Function: original version
    Download Restriction: no

    References listed on IDEAS

    as
    1. Xavier Sala-i-Martin & Arvind Subramanian, 2013. "Addressing the Natural Resource Curse: An Illustration from Nigeria," Journal of African Economies, Centre for the Study of African Economies (CSAE), vol. 22(4), pages 570-615, August.
    2. Jeffrey D. Sachs & Andrew M. Warner, 1995. "Natural Resource Abundance and Economic Growth," NBER Working Papers 5398, National Bureau of Economic Research, Inc.
    3. N. Gregory Mankiw & David Romer & David N. Weil, 1992. "A Contribution to the Empirics of Economic Growth," The Quarterly Journal of Economics, Oxford University Press, vol. 107(2), pages 407-437.
    4. Corden, W Max & Neary, J Peter, 1982. "Booming Sector and De-Industrialisation in a Small Open Economy," Economic Journal, Royal Economic Society, vol. 92(368), pages 825-848, December.
    5. Daron Acemoglu & Simon Johnson & James A. Robinson, 2001. "The Colonial Origins of Comparative Development: An Empirical Investigation," American Economic Review, American Economic Association, vol. 91(5), pages 1369-1401, December.
    6. Tobias Kronenberg, 2004. "The curse of natural resources in the transition economies," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 12(3), pages 399-426, September.
    7. Osmel Manzano & Roberto Rigobon, 2001. "Resource Curse or Debt Overhang?," NBER Working Papers 8390, National Bureau of Economic Research, Inc.
    8. Robert J. Barro, 1999. "Determinants of Democracy," Journal of Political Economy, University of Chicago Press, vol. 107(S6), pages 158-183, December.
    9. Atsushi Iimi, 2007. "Escaping from the Resource Curse: Evidence from Botswana and the Rest of the World," IMF Staff Papers, Palgrave Macmillan, vol. 54(4), pages 663-699, November.
    10. Rahim, Khalid Abdul & Liwan, Audrey, 2012. "Oil and gas trends and implications in Malaysia," Energy Policy, Elsevier, vol. 50(C), pages 262-271.
    11. Papyrakis, Elissaios & Gerlagh, Reyer, 2004. "The resource curse hypothesis and its transmission channels," Journal of Comparative Economics, Elsevier, vol. 32(1), pages 181-193, March.
    12. Sachs, Jeffrey D & Warner, Andrew M, 1997. "Sources of Slow Growth in African Economies," Journal of African Economies, Centre for the Study of African Economies (CSAE), vol. 6(3), pages 335-376, October.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Suleymanov, Elchin & Zeynalov, Ayaz & Mammadov, Rufat, 2013. "Analyzıng And Valuıng Of The Export Multıplıcıty Of Azerbaıjan Republıc," MPRA Paper 52306, University Library of Munich, Germany.

    More about this item

    Keywords

    economic growth; natural resources; institutional governance; post-Soviet countries;

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East
    • Q32 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Exhaustible Resources and Economic Development

    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:pra:mprapa:46850. 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: (Joachim Winter) or (Rebekah McClure). General contact details of provider: http://edirc.repec.org/data/vfmunde.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.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with 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.