Oil Curse Bibliography

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Record 1 of 96
Title: Autocratic Survival Strategies: Does Oil Make a Difference?
Author(s): Ishak, PW (Ishak, Phoebe W.)
Source: PEACE ECONOMICS PEACE SCIENCE AND PUBLIC POLICY Volume: 25 Issue: 2 Article Number: UNSP 20180043 DOI: 10.1515/peps-2018-
0043 Published: MAY 2019
Abstract: This paper examines the behavior of dictators when faced by an imminent threat of being overthrown in oil abundant countries. In the short run,
the dictator's survival strategies is argued to be confined to public spending and repression, whereas the choice of their levels is conditional upon the
intensity of the mass threat (i.e. civil protest vs. mass violence) and the size of oil wealth. The empirical results indicate a possibility of mixing between
spending and repression, and that oil wealth allows for differences in their employed levels in face of the same threat. Using a dataset of authoritarian
regimes in 88 countries from 1981 to 2006, I found that mass violence is handled through increasing both spending and repression, whereas civil protest is
only met by repression. Furthermore, greater oil wealth is found to provide a wider fiscal space to relatively increase spending, but only at low and
intermediate levels of mass threats. As the threats intensify, the effect of oil wealth dissipates and oil wealth dictatorships behave the same as their non-oil
wealth counterparts.
Accession Number: WOS:000467213400005
ISSN: 1079-2457
eISSN: 1554-8597
Record 2 of 96
Title: Rent-Seeking Practices, Local Resource Curse, and Social Conflict in Uganda's Emerging Oil Economy
Author(s): Ogwang, T (Ogwang, Tom); Vanclay, F (Vanclay, Frank); van den Assem, A (van den Assem, Arjan)
Source: LAND Volume: 8 Issue: 4 Article Number: 53 DOI: 10.3390/land8040053 Published: APR 2019
Abstract: We consider the different types of rent-seeking practices in emerging oil economies, and discuss how they contribute to social conflict and a local
resource curse in the Albertine Graben region of Uganda. The rent-seeking activities have contributed to speculative behavior, competition for limited social
services, land grabbing, land scarcity, land fragmentation, food insecurity, corruption, and ethnic polarization. Local people have interpreted the experience
of the consequent social impacts as a local resource curse. The impacts have led to social conflicts among the affected communities. Our research used a
range of methods, including 40 in-depth interviews, focus group discussions, participant observation, and document analysis. We argue there is an urgent
need by all stakeholdersincluding local and central governments, oil companies, local communities, and civil society organizationsto address the challenges
before the construction of oil infrastructure. Stakeholders must work hard to create the conditions that are needed to avoid the resource curse; otherwise,
Uganda could end up suffering from the Dutch Disease and Nigerian Disease, as has befallen other African countries.
Author Identifiers:
Author Web of Science ResearcherID ORCID Number
Vanclay, Frank 0000-0002-9945-6432
eISSN: 2073-445X
Record 3 of 96
Title: The role of social and physical infrastructure spending in tradable and non-tradable growth
Author(s): Hasanov, FF (Hasanov, Fakhri F.); Mikayilov, JI (Mikayilov, Jeyhun, I); Yusifos, S (Yusifos, Sabuhi); Aliyev, K (Aliyev, Khatai); Talishinskaya, S
(Talishinskaya, Samra)
Source: CONTEMPORARY ECONOMICS Volume: 13 Issue: 1 Pages: 79-98 DOI: 10.5709/ce.1897-9254.300 Published: MAR 31 2019
Abstract: This study investigates the impact of social and physical infrastructure spending on the non-oil tradable and non-tradable sectors while controlling
for non-oil capital stock and employment in the Azerbaijani economy for the period 1995-2014. The analysis employs the Engle-Granger and Phillips-Ouliaris
cointegration tests using FMOLS estimation results to test for the existence of long-run relationships. The tests results indicate the existence of long-run
relationships among the variables. The estimation results reveal positive impacts of both social and physical infrastructure spending on non-oil tradable and
non-tradable outputs. However, the impacts on the non-tradable sector are considerably larger than those on the non-oil tradable sector. Developing the
non-resource tradable sector, and thereby reducing possibility of the "Resource Curse" and especially the Dutch Disease, is one of the strategic aims of
natural resource-rich countries. In this regard, the findings of this research may be useful for Azerbaijani policymakers in taking measures that aim at
fostering the development of the non-oil tradable sector, thereby avoiding possible negative outcomes of resource dependency such as the Dutch Disease.
ISSN: 2084-0845
Record 4 of 96
Title: Institutions and return predictability in oil-exporting countries
Author(s): Aramonte, S (Aramonte, Sirio); Jahan-Parvar, MR (Jahan-Parvar, Mohammad R.); Shugarman, JK (Shugarman, Justin K.)
Source: QUARTERLY REVIEW OF ECONOMICS AND FINANCE Volume: 71 Pages: 14-26 DOI: 10.1016/j.qref.2018.09.002 Published: FEB 2019
Abstract: We study whether oil price changes have predictive power for stock market returns in oil-exporting countries, and we investigate the link between
predictability and the quality of each country's institutions. Returns are predictable for half the countries we consider, and predictability is stronger when
institutional quality is lower. We argue that the relation between predictability and institutional quality reflects the preference of countries with weaker
institutions to consume oil windfalls locally rather than smooth out their impact by, for example, investing the proceeds internationally. Published by
Elsevier Inc. on behalf of Board of Trustees of the University of Illinois.
ISSN: 1062-9769
eISSN: 1878-4259
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Record 5 of 96
Title: Oil Curse of Russia: Search for Dependence of Quotations RUB/USD on the Price of Brent Crude Oil
Author(s): Kulikov, AV (Kulikov, Aleksandr V.)
Source: INTERNATIONAL JOURNAL OF ADVANCED BIOTECHNOLOGY AND RESEARCH Volume: 10 Special Issue: 1 Pages: 250-253 Published: 2019
Abstract: This paper analyzes the relationship between the price of Brent crude oil and the ruble / dollar rate. One of the basic problems of data analysis is
solved - the search for the relationship of two quantities. For example, four data periods of 1 year duration each are taken. The interim date between the
periods is November 10, 2014 - the date when the Central Bank of the Russian Federation abolished the current exchange rate policy mechanism.
ISSN: 0976-2612
eISSN: 2278-599X
Record 6 of 96
Title: When Do Natural Resources Harm Fiscal Health? Evidence from the United StatesPalabras Clave(sic)(sic)(sic)
Author(s): Carr, DA (Carr, Douglas A.); Fails, MD (Fails, Matthew D.)
Source: POLITICS & POLICY Volume: 46 Issue: 6 Pages: 878-911 DOI: 10.1111/polp.12271 Published: DEC 2018
Abstract: Do natural resources have harmful economic consequences? This question is central to the interdisciplinary "resource curse" literature, but
important questions remain unanswered. At the same time, the discovery of new resource deposits around the world and technological developments that
enable greater resource extraction make understanding the dynamics of the resource curse even more pressing. This article addresses these issues by
focusing on the relationship between resource abundance and fiscal outcomes, which we argue more accurately reflects the causal mechanisms emphasized
in existing research than aggregate economic outcomes like increases in gross domestic product per capita. We describe a variety of hypotheses linking
resource abundance to fiscal health, including how political and institutional factors can either mitigate or exacerbate the effect of resource wealth, and test
these arguments using state-level data from the United States encompassing the years 1992-2014. This focus on subnational variation helps minimize some
of the limitations of the cross-country comparisons that have dominated the prior literature. Our regression results suggest that, contrary to the most
pessimistic theories, resource wealth is o en associated with stronger fiscal performance at the state level. However, a number of factors, including levels of
political polarization, legislative term limits, and lower wage growth, negate these benefits.
ISSN: 1555-5623
eISSN: 1747-1346
Record 7 of 96
Title: Dynamic relationships among non-oil revenue, government spending and economic growth in an oil producing country: Evidence from Nigeria
Author(s): Olayungbo, DO (Olayungbo, D. O.); Olayemi, OF (Olayemi, O. F.)
Source: FUTURE BUSINESS JOURNAL Volume: 4 Issue: 2 Pages: 246-260 DOI: 10.1016/j.fbj.2018.07.002 Published: DEC 2018
Abstract: This paper investigated the dynamic relationships among non-oil revenue, government spending and economic growth in Nigeria for the period of
1981 to 2015. A er establishing a long run relationship among the variables, the error correction model, impulse responses were estimated as well as the
granger causality test among the variables. The results of the short run and long run showed negative effects of government spending on economic growth
while non-oil revenue showed positive effect on economic growth. We also found non-oil revenue to have negative shocks on economic growth while the
government spending shock was positive. The Granger causality revealed that government spending granger caused both non-oil revenue and economic
growth supporting the Keynesian and spend-tax hypothesis in Nigeria over the period of the study. We recommend that the economy of Nigeria should be
diversified into non-oil sector rather than relying solely on revenue from oil export.
ISSN: 2314-7210
Record 8 of 96
Title: The Nature of the finance-growth relationship: Evidence from a panel of oil-producing countries
Author(s): Oro, OU (Oro, Oro Ufuo); Alagidede, P (Alagidede, Paul)
Source: ECONOMIC ANALYSIS AND POLICY Volume: 60 Pages: 89-102 DOI: 10.1016/j.eap.2018.09.010 Published: DEC 2018
Author Identifiers:
Alagidede, Paul 0000-0003-1571-0227
ISSN: 0313-5926
Record 9 of 96
Title: Crude controversies: Disputes along Niger's petro-infrastructure
Author(s): Schritt, J (Schritt, Jannik)
Source: HISTORY AND ANTHROPOLOGY Volume: 29 Issue: 5 Pages: 645-669 DOI: 10.1080/02757206.2018.1445625 Published: OCT 20 2018
Abstract: The article focuses on spatializing struggles in relation to Niger's new oil infrastructure and shows how it turned public and political. Two different
but interconnected perspectives are employed: first, a historical perspective illuminates how economic theories of growth, visions of industrialization,
desires for energy autonomy, political projects for constitutional change and infrastructural developments in neighbouring countries were, from the very
beginning, entangled in Niger's oil assemblage. These entanglements made the petro-infrastructure political even before it had materialized. Second, by
focusing ethnographically on the spatial dispersion of the petro-infrastructure over different administrative regions in Niger, the article examines
territorializing processes in which temporally and spatially separated histories of marginalization were stitched together to reconfigure collective identities.
These dynamics go beyond existing explanations of resource curse theories, showing how oil acts as a catalyst that accelerates pre-existing dynamics, slowly
transforming the socio-political configuration in which it operates in the process.
ISSN: 0275-7206
eISSN: 1477-2612
Record 10 of 96
Title: Le in the Dark? Oil and Rural Poverty
Author(s): Smith, B (Smith, Brock); Wills, S (Wills, Samuel)
Source: JOURNAL OF THE ASSOCIATION OF ENVIRONMENTAL AND RESOURCE ECONOMISTS Volume: 5 Issue: 4 Pages: 865-904 DOI:
10.1086/698512 Published: OCT 2018
Abstract: Do oil booms reduce rural poverty and inequality? To study this we measure rural poverty by counting people who live in darkness at night:
combining high-resolution global satellite data on night-time lights and population from 2000 to 2013. We develop a measure that accurately identifies 74%
of households as above or below the extreme poverty line when compared to over 600,000 household surveys. We find that both high oil prices and new
discoveries increase illumination and GDP nationally. However, they also promote regional inequality because the increases are limited to towns and cities
with no evidence that they benefit the rural poor.
ISSN: 2333-5955
eISSN: 2333-5963
Record 11 of 96
Title: Facing oil industry: daily dependency and protest in Peruvian Amazon
Author(s): Buu-Sao, D (Buu-Sao, Doris)
Source: AMERICA LATINA HOY-REVISTA DE CIENCIAS SOCIALES Volume: 79 Pages: 103-124 DOI: 10.14201/alh201879103124 Published: AUG 2018
Abstract: Indigenous groups living in the vicinity of oil installations do not always participate in mobilizations against industrial pollution: the experience of
environmental damage is not enough for one to protest. This simple statement arises from the analysis of an emblematic though "microscopic" case, located
in a border zone of Peruvian Amazonia. In social surroundings of oil industry, protest seems unlikely, due to the multiple ties that develop between the
company and indigenous communities. Based on the ethnography of neighbouring villages of an extractive area, the article studies social transformations
are caused by the industry, and their effects on local populations' mobilizations. That way, it highlights the complex motives and modalities of protest,
beyond the seeming obviousness of mobilizations against damages caused by oil companies operating in indigenous territories.
ISSN: 1130-2887
eISSN: 2340-4396
Record 12 of 96
Title: The Socio-economic Effects of Oil Royalties in Casanare state, period 2004-2015
Author(s): Vargas, AFP (Pava Vargas, Andres Fernando); Valencia, AL (Lemos Valencia, Alberto)
Source: APUNTES DEL CENES Volume: 37 Issue: 66 Pages: 239-272 DOI: 10.19053/01203053.v37.n66.2019.7803 Published: JUL-DEC 2018
Abstract: Although the remarkable oil exploitation has allowed Casanare state to receive significant income as royalties, the socio-economic structure
reached in it has not been as expected. Therefore, the purpose of this document is to demonstrate that the management and administration applied to these
resources (represented by the Institutional Quality Index) was not consistent with the socio-economic effects achieved in this state, during the period 2004-
2015. This demonstration, which gave rise, at the same time, to a relationship with the so-called natural resources curse for this region, was defined a er
analyzing the results obtained with the estimated linear regressions, through the ordinary least squares method, and its comparisons, with the results of the
other highlighted states in oil production, under the criteria of the Ragin's similarity and difference method.
ISSN: 2256-5779
Record 13 of 96
Title: Do expectations on oil discoveries affect civil unrest? Micro-level evidence from Mali
Author(s): Basedau, M (Basedau, Matthias); Rustad, SA (Rustad, Siri Aas); Must, E (Must, Elise)
Source: COGENT SOCIAL SCIENCES Volume: 4 Issue: 1 Article Number: 1470132 DOI: 10.1080/23311886.2018.1470132 Published: JUN 4 2018
Abstract: In recent years, many oil finds were made along the shores of Africa, o en triggering high hopes. But do expectations of the consequences of oil
discoveries affect subsequent conflict? A number of arguments back this idea. Relative deprivation theory suggests that oil discoveries raise hopes of
windfalls, which if not fulfilled, result in frustration and thus increase conflict risk. In contrast, cognitive psychology assumes that the effect of expectations
largely works through a confirmation bias and thus depends on whether individuals attach positive or negative expectations to oil discoveries. Given the lack
of appropriate data, these relationships have never been tested empirically. Using unique georeferenced data from a representative survey in Mali in 2006,
this paper addresses this gap. Our results suggest that expectations indeed significantly contribute to subsequent conflict. The negative or positive character
of expectations is critical, working as self-fulfilling prophecy rather than frustrated "great expectations": when people hold negative views on the future
effects of oil, the risk of civil unrest increases.
ISSN: 2331-1886
Record 14 of 96
Title: Sovereign wealth funds and macroeconomic stability in oil-exporting African countries
Author(s): Rasaki, MG (Rasaki, Mutiu Gbade); Malikane, C (Malikane, Christopher)
Source: OPEC ENERGY REVIEW Volume: 42 Issue: 2 Pages: 151-169 DOI: 10.1111/opec.12128 Published: JUN 2018
Abstract: This paper investigates the effectiveness of sovereign wealth funds (SWFs) in reducing macroeconomic volatility occasioned by oil price shocks in
oil-exporting African countries. The oil price boom-bust cycles complicate fiscal operations, distort budget implementation and trigger macroeconomic
instability in oil exporting African countries. We formulate and simulate a dynamic stochastic general equilibrium model that features SWFs and the fiscal
sector. We compare a baseline model without the SWFs to a model with the SWFs. The simulation analysis suggests that the establishment of SWFs can
mitigate the vulnerability of oil-exporting African countries to oil price shocks. In particular, SWFs can reduce fiscal expenditure and real exchange rate
volatility. Furthermore, SWFs can stabilise the level of external debt and reduce the level of money supply thereby sterilising the oil revenue. Since oil price
shock is one of the important external shocks inducing economic instability in oil-exporting African countries, the creation of SWFs can insulate these
economies from external shocks.
ISSN: 1753-0229
eISSN: 1753-0237
Record 15 of 96
Title: Azerbaijani Engineers in the Global Economy: Transnational Professionals Versus "Button-Pushers"
Author(s): Sayfutdinova, L (Sayfutdinova, Leyla); Ergun, A (Ergun, Ayca)
Source: JOURNAL OF DEVELOPING SOCIETIES Volume: 34 Issue: 2 Pages: 144-168 DOI: 10.1177/0169796X18767993 Published: JUN 2018
Abstract: This article examines the changes in the engineering profession in Azerbaijan a er the inflow of foreign investment into Azerbaijan's oil industry
since 1990s. The integration of Azerbaijan's oil industry into global economy has led to a significant reshaping of the engineering profession, both within and
outside of the oil industry. Multinational companies, which have been the main agents of this integration, have introduced advanced technologies and
helped many Azerbaijani engineers to gain access to the international labor market, o en serving as credentializing institutions. At the same time, the
presence of these multinational companies have also opened the way for new inequalities. They have indirectly created an important division within the
engineering professiona division between internationally mobile engineers from the oil industry and engineers in other industries. Outside of the oil
industry, engineering work has in many cases been reduced to routine tasks of assembly and operations, while research, design, and manufacturing were
made redundant in the context of the oil-driven development promoted by Azerbaijan's government.
ISSN: 0169-796X
eISSN: 1745-2546
Record 16 of 96
Title: Oil, Islam, and the Middle East: An Empirical Analysis of the Repression of Religion, 1980-2013
Author(s): Albertsen, D (Albertsen, Daniel); de Soysa, I (de Soysa, Indra)
Source: POLITICS AND RELIGION Volume: 11 Issue: 2 Pages: 249-280 DOI: 10.1017/S1755048317000736 Published: JUN 2018
Abstract: There is a lively debate on the relative impacts of Islam, oil wealth, and Middle Eastern institutional legacies regarding democratization and the
spread of liberal values. We examine this issue using religious repression. We argue that oil-wealthy rulers use religious monopoly to control dissent. Our
results show that oil wealth increases religious repression above the effects of Muslim dominance and a host of sundry controls. The Middle East and North
Africa region seems to matter more than Islam. Interestingly, the conditional effect of oil and the Middle East and North Africa region is positive on religious
freedom. The data suggest that several Gulf monarchies have more religious freedoms than other Muslim dominant states, such as Saudi Arabia and Iran, or
even Israel and Jordan. The worst religious repression is among oil producers in Central Asia. The results are robust to a host of intervening factors, different
measures of oil wealth, alternative data on religious freedom, and estimating method.
ISSN: 1755-0483
eISSN: 1755-0491
Record 17 of 96
Title: Political economy, Mr. Churchill, and natural resources
Author(s): Gylfason, T (Gylfason, Thorvaldur)
Source: MINERAL ECONOMICS Volume: 31 Issue: 1-2 Special Issue: SI Pages: 23-34 DOI: 10.1007/s13563-018-0146-y Published: MAY 2018
Abstract: The article recalls Winston Churchill's advocacy of public ownership of natural resources in Africa in the early 1900s. Following a brief discussion of
different countries' methods of natural resource management, empirical evidence of the cross-country relationship between economic and political
diversification and per capita national income is presented to suggest a new channel through which excessive dependence on poorly managed natural
resources, including oil and other minerals, may hamper economic and social progress. Constitutional issues, democracy, and human rights are brought to
bear on the story to underline the conceptual distinction between state ownership and national ownership of natural resources.
ISSN: 2191-2203
eISSN: 2191-2211
Record 18 of 96
Title: Neither Dutch nor disease?-natural resource booms in theory and empirics
Author(s): Nulle, GM (Nulle, Grant Mark); Davis, GA (Davis, Graham A.)
Source: MINERAL ECONOMICS Volume: 31 Issue: 1-2 Special Issue: SI Pages: 35-59 DOI: 10.1007/s13563-018-0153-z Published: MAY 2018
Abstract: For several decades, economists have endeavored to determine whether a sudden surge in mineral and energy extraction activity poses an
albatross or boon to an economy. The "Dutch disease" version of the resource curse originates in a traditional model postulating that extensive mineral and
energy production induces inter-sectoral adjustments among traded and non-traded industries and that these adjustments tend to crowd out traditional
export industries such as manufacturing. This can be acutely detrimental to the long-run growth of an economy when the traditional industries produce
positive learning by doing externalities. This chain of events is so frequently cited as being evident in resource-based economies that it has become stylized
wisdom. This paper reviews whether modern theoretical models and empirical evidence actually support the Dutch disease. Overall, we find that the Dutch
disease is by no means theoretically predicted or empirically evident within resource-based economies.
Author Identifiers:
Davis, Graham 0000-0001-9501-6619
ISSN: 2191-2203
eISSN: 2191-2211
Record 19 of 96
Title: Energy Transition and Rural Hospital Closure: Leaving Rural America Behind?
Author(s): Mayer, A (Mayer, Adam)
Source: ENVIRONMENTAL JUSTICE Volume: 11 Issue: 2 Pages: 71-76 DOI: 10.1089/env.2017.0035 Early Access Date: MAR 2018 Published: APR 2018
Abstract: Starting in the 2000s, the U.S. energy system entered a period of rapid transition, with a marked decline in coal extraction, a boom in domestic oil
and gas production, and increased deployment of renewable sources. Economically marginalized rural populations tend to have less access to health
services than their metropolitan counterparts and stand to make significant gains from this energy transition. However, during the 2010-2015 period, several
rural hospitals closed. In this analysis, we ask how the energy transition effects the likelihood of rural hospital closure. Models suggest that expanding energy
production does not reduce the chances of a hospital closure, raising important questions of energy justice.
ISSN: 1939-4071
eISSN: 1937-5174
Record 20 of 96
Title: A Simulation Model of Katouzian's Theory of Arbitrary State and Society
Author(s): Langarudi, SP (Langarudi, Saeed P.); Radzicki, MJ (Radzicki, Michael J.)
Source: FORUM FOR SOCIAL ECONOMICS Volume: 47 Issue: 1 Special Issue: SI Pages: 115-152 DOI: 10.1080/07360932.2015.1051076 Published: 2018
Abstract: This paper represents an initial effort to model the volatile behavior of Iran's socio-political-economic system. More specifically, Homa Katouzian's
theory of Iranian political economy-a well-established descriptive theory of Iran's unstable economic development-is translated into a system dynamics
model, tested for internal consistency, and used for policy analysis. Simulation results confirm Katouzian's claim that periodic episodes of significant
arbitrary power are key to understanding the historically less-than-optimal behavior of the Iranian socioeconomic system. They also confirm the significance
of oil revenue, economic sanctions, and civil resistance on Iranian economic development. Of note is that experimentation with the model reveals that
educational policies that generate increased respect for the law by Iranian citizens can significantly improve the behavior of the Iranian socioeconomic
system. The paper concludes with suggestions for future research.
Author Identifiers:
Langarudi, Saeed 0000-0002-7270-2701
ISSN: 0736-0932
eISSN: 1874-6381
Record 21 of 96
Title: A local to global perspective on resource governance and conflict
Author(s): Schilling, J (Schilling, Janpeter); Saulich, C (Saulich, Christina); Engwicht, N (Engwicht, Nina)
Source: CONFLICT SECURITY & DEVELOPMENT Volume: 18 Issue: 6 Special Issue: SI Pages: 433-461 DOI: 10.1080/14678802.2018.1532641 Published:
2018
Abstract: This article serves as an introduction to the special issue 'A Local to Global Perspective on Resource Governance and Conflict'. It advances the
debate on natural resource governance and conflict by bringing together three different strands of literature with the aim of developing a local to global
research perspective and framework for analysis. First, this article reviews and identifies research gaps in the literatures on (1) the resource curse, (2)
environmental security and (3) the large-scale acquisition of land and natural resources. Second, it addresses the previously identified research gaps by
developing a local to global research perspective and a corresponding analytical framework. The final section of this contribution summarises the key
findings of the articles presented in the special issue and outlines their policy implications.
ISSN: 1467-8802
eISSN: 1478-1174
Record 22 of 96
Title: FEATURES OF FUNCTIONING NATIONAL MODEL OF RESOURCE ECONOMICS IN UKRAINE
Author(s): Sergey, K (Sergey, Kolodii); Inna, K (Inna, Kochuma); Anatoly, M (Anatoly, Marenych); Mykola, R (Mykola, Rudenko)
Source: FINANCIAL AND CREDIT ACTIVITY-PROBLEMS OF THEORY AND PRACTICE Volume: 4 Issue: 27 Pages: 359-369 Published: 2018
Abstract: Introduction. Almost thirty years in the modern history of Ukraine were marked by modest economic and social outcomes. Extremely low rates of
economic growth, price and exchange rate instability, technological backwardness of the majority of domestic enterprises, their mass closing, degradation of
production and social infrastructure, as well as human capital, low incomes of the vast majority of the population and their significant differentiation,
deformations in the work of democratic mechanisms led to the need to revise the existing paradigm of socioeconomic development.
The purpose of the research is to study the theoretical and practical features of forming and functioning of national model of resource economics.
Results. The main methodological approaches for assessing the nature and features of the functioning of the domestic economy are outlined. It is
determined that Ukrainian export and GDP are highly dependent on the production and export of hard and so resources, with the latter replacing the
former. We can conclude that there is a long-term trend in the structure of commodity export to the replacement of hard resources export by the export of
so resources, and the calculated correlation coefficient is 0.95. There have been positive trends towards a gradual increase in the gross production of grain,
including through the increased productivity of production and labour, which will facilitate medium-term economic growth.
Conclusions. The creation of a modern model of competitive economics can help to catch up the level of social and economic development of the leading
countries of the world. However, in the medium term, the reform of the national economic model with minimal transformation costs is possible only under
the conditions of further development, primarily, of agrarian production, which will act as a medium-term development driver and at the same time will
ensure certain macroeconomic stability.
ISSN: 2306-4994
eISSN: 2310-8770
Record 23 of 96
Title: The resource course and hydrocarbons: a literature review
Author(s): Wirth, E (Wirth, Eszter)
Source: PAPELES DE EUROPA Volume: 31 Issue: 1 Pages: 19-39 DOI: 10.5209/PADE.61487 Published: 2018
Abstract: Specialization in natural resources and its inherent challenges have been two of the most analyzed and discussed topics in the literature on
development economics. This article aims to systematize the core ideas regarding the debate on the resource curse, by focusing on its four potential
transmission channels and by trying to identify the features of oil and natural gas that make exporters of these raw materials prone to suffer from the curse
symptoms. The institutional variable, which holds a key role in designing policies focused on the mitigation of the four transmission channels is highlighted.
ISSN: 1989-5917
Record 24 of 96
Title: Diagnosing the curse of natural resources in Kuwait
Author(s): Al-Shammari, N (Al-Shammari, Nayef); Al-Hossayan, N (Al-Hossayan, Noura); Behbehani, M (Behbehani, Mariam)
Source: JOURNAL OF ECONOMIC AND ADMINISTRATIVE SCIENCES Volume: 34 Issue: 2 Pages: 153-171 DOI: 10.1108/JEAS-06-2017-0052 Published: 2018
Abstract: Purpose The purpose of this paper is to empirically examine the phenomenon of natural resource curse in an oil abundant economy of Kuwait. The
study estimates a behavioral equilibrium exchange rate model for Kuwait during the period 1980-2014 to assess the impact of prices and productivity factors
on real effective exchange rate.
Design/methodology/approach It uses time series econometric techniques, such as unit root tests, Johansen cointegration test, Vector Error Correction
Model, and Impulse Response Function, to estimate the model.
Findings Unlike the results of the few other studies, the empirical results show a significant impact of the variables, such as balance of trade, economic
growth, oil exports, interest rate, and inflation rate, on real effective exchange rate appreciation which indicates the existence of Dutch disease within the
Kuwaiti economy. Similarly, the comparative analysis between changes in public expenditure and inflation rate shows the existence of Dutch disease in
Kuwait during specific periods of time.
Originality/value Natural resource curse or Dutch disease is a widely recognized phenomenon affecting the balance of economic activities in natural resource
abundant countries. Symptoms of Dutch disease are perceived in several changes in the economy, particularly on price level, sectorial productivity,
employment, and aggregate demand which in the long run worsen the country's economic position and lower its international competitiveness. Dutch
disease is not only a feature of natural resource abundant economies, but also can affect any economy with excessive revenue generating sector or high
capital inflows which appreciates country's exchange rate. However, the examination of Dutch disease in the economy is more important when investigating
the impact on oil-producing countries (Apergis et al. 2014; Mohammadi and Jahan-Parvar, 2012; Jahan-Parvar and Mohammadi, 2011). Therefore, scholars
studying Dutch disease phenomenon pay greater attention to cases of Dutch disease among oil-producing countries (i.e. Arezki and Ismail, 2013; Van der
Ploeg and Venables, 2013; Jahan-Parvar, 2012; Cologni and Manera, 2013).
ISSN: 1026-4116
eISSN: 2054-6246
Record 25 of 96
Title: Cold War Geopolitics and the Making of the Oil Curse
Author(s): Hendrix, CS (Hendrix, Cullen S.)
Source: JOURNAL OF GLOBAL SECURITY STUDIES Volume: 3 Issue: 1 Pages: 2-22 DOI: 10.1093/jogss/ogx022 Published: JAN 2018
Abstract: Does oil hinder democracy? The prevailing wisdom holds that, since 1980, oil has hindered democracy by enabling oil wealth to flow to state-
owned oil companies, breaking the fiscal contract with society, and endowing oil-rich regimes with means to invest in repression and accommodation.
However, these arguments do not account for system-level factors that might affect the oil-democracy relationship. I argue that a structural break in the oil-
democracy relationship occurred at the end of the Cold War when the United States and the Soviet Union reduced support for both oil-poor and oil-rich
authoritarian regimes in the developing world. The rollback of support facilitated post-Cold War democratization of the resource-poor regimes, while oil-rich
regimes were better positioned to stave off pressures to democratize. Based on a re-analysis of two prominent studies, I find the oil curse to be a post-Cold
War phenomenon, with negative consequences for democracy of a magnitude roughly 80 percent larger than previously estimated. I further explore these
dynamics via comparative case studies of Azerbaijan and Georgia. The evidence shows that the oil curse is a function of geopolitical dynamics, not just
international market conditions.
ISSN: 2057-3170
eISSN: 2057-3189
Record 26 of 96
Title: Oil in Sicily: Petrocapitalist imaginaries in the shadow of old smokestacks
Author(s): Benadusi, M (Benadusi, Mara)
Source: ECONOMIC ANTHROPOLOGY Volume: 5 Issue: 1 Pages: 45-58 DOI: 10.1002/sea2.12101 Published: JAN 2018
Abstract: By describing the long trajectory of petrochemical industrialization in a Mediterranean area in southeastern Sicily locally known as the triangle of
death, this article discusses how the widespread, long-term, and nearly invisible nature of everyday forms of catastrophe generate effects that at times are
even more insidious than a major disaster. Indeed, like the fumes rising from an industrial smokestack, oil culture seeps into the imaginaries and
epidermises of the people for whom petroleum represents both a blessing and a curse.
ISSN: 2330-4847
Record 27 of 96
Title: Act 919 of 2016 and its contribution to governance of the upstream petroleum industry in Ghana
Author(s): Ndi, G (Ndi, George)
Source: JOURNAL OF ENERGY & NATURAL RESOURCES LAW Volume: 36 Issue: 1 Special Issue: SI Pages: 5-31 DOI:
10.1080/02646811.2017.1349186 Published: 2018
Abstract: In August 2016, the Ghanaian Parliament marked the advent of a new era for the country's nascent petroleum industry with the enactment into law
of the Petroleum (Exploration and Production) Act (Act 919). Act 919 is considered to represent a major milestone in the legislative history of the upstream oil
and gas industry in Ghana. The main objective of this article is to assess the new statute's fitness for purpose through a critical examination of its regulatory
aspirations and its underlying legislative presumptions. The discussion is set against the historical background of petroleum exploration and production in
Ghana.
ISSN: 0264-6811
eISSN: 2376-4538
Record 28 of 96
Title: Sovereign wealth funds in developing countries: a case study of the Ghana Petroleum Funds
Author(s): Oshionebo, E (Oshionebo, Evaristus)
Source: JOURNAL OF ENERGY & NATURAL RESOURCES LAW Volume: 36 Issue: 1 Special Issue: SI Pages: 33-59 DOI:
10.1080/02646811.2017.1329120 Published: 2018
Abstract: The Petroleum Revenue Management Act, 2011 established the Ghana Petroleum Funds (GPF) for the purposes of investing and saving petroleum
revenues. This article argues that, while the Act provides clear legal and governance frameworks for the GPF, the effectiveness of the GPF could be hindered
by certain flaws inherent in the Act. The Act does not sufficiently empower some of the oversight mechanisms that are vital for the efficient management of
any sovereign wealth fund. Moreover, the Act appears to place needlessly broad discretionary powers on the Minister of Finance by empowering the Minister
to declare information relating to the GPF as confidential if they think that disclosure of such information would prejudice the performance of the GPF.
ISSN: 0264-6811
eISSN: 2376-4538
Record 29 of 96
Title: Community perceptions of Nigerian oil companies commitment to social and environmental concerns
Author(s): Odera, O (Odera, Odhiambo); Scott, A (Scott, Albert); Gow, J (Gow, Jeff)
Source: JOURNAL OF GLOBAL RESPONSIBILITY Volume: 9 Issue: 1 Pages: 73-95 DOI: 10.1108/JGR-02-2017-0006 Published: 2018
Abstract: Purpose - This paper aims to identify factors influencing and shaping community perceptions of oil companies which present fertile ground for a
better understanding of their actions.
Design/methodology/approach - A qualitative methodology is adopted where primary data were collected through semi-structured interviews from
members of three communities in the Niger Delta: Ogbunabali community in Port Harcourt (Rivers State), Biogbolo community in Yenagoa (Bayelsa State)
and Ogunu community in Warri (Delta State). The interview data were recorded, transcribed and qualitatively analysed using content analysis with NVivo
so ware.
Findings - Perceptions regarding negative and positive aspects of the oil companies were identified. These included environmental concerns; lack of
compensation; health effects; lack of social development; neglect of communities; not creating employment opportunities; and providing community and
educational support.
Research limitations/implications - A major limitation regards the small number of respondents selected from the communities. The sample of the
interviewees was constrained by their availability and accessibility, which might have injected some bias. Gathering data from other stakeholders such as
non-governmental organisations, consumers, investors and creditors may provide a deeper understanding of social and environmental practices. Another
approach would be to extend this study by examining the perceptions of relevant government officials towards social and environmental concerns in
developing countries.
Originality/value - The qualitative research methodology utilised in this study uses content analysis to examine views of communities about oil companies'
commitments to their social and environmental concerns. An understanding of social and environmental commitments allows diverse stakeholders such as
communities to become more engaged with issues affecting them.
Author Identifiers:
Gow, Jeff L-9647-2017 0000-0002-5726-298X
ISSN: 2041-2568
eISSN: 2041-2576
Record 30 of 96
Title: Econometric model of dependence between the oil prices, and the global external debt level and oil production
Author(s): Hasanli, Y (Hasanli, Yadulla); Ismayilova, S (Ismayilova, Simrah)
Source: ECONOMIC ANNALS-XXI Volume: 166 Issue: 7-8 Pages: 11-15 DOI: 10.21003/ea.V166-02 Published: DEC 5 2017
Abstract: The article comprises theoretical discussion of the influence of the revenues obtained from the exploitation of oil reserves on the external debt
level in the countries of the world. Econometric methods are applied to analyse statistical data for 2003-2016 and quantitative characteristics of this
influence. It was concluded that rise in oil prices results in growth of the national external debt. We found that 1% growth in oil prices increases the volume of
foreign debt to the unit of GDP of the world for 3.17%.
ISSN: 1728-6220
eISSN: 1728-6239
Record 31 of 96
Title: Reversing the 'Resource Curse' Phenomenon in Nigeria: An Assessment of the Nigeria Extractive Industries Transparency Initiative Act A er a Decade
Author(s): Ojukwu-Ogba, N (Ojukwu-Ogba, Nelson); Osode, P (Osode, Patrick)
Source: AFRICAN JOURNAL OF LEGAL STUDIES Volume: 10 Issue: 2-3 Pages: 141-162 DOI: 10.1163/17087384-12340019 Published: DEC 2017
Abstract: Natural resources endowment is a blessing to the endowed states due to their catalytic development-driving potential. The exploitation of the
endowment should result in rapid socio-economic development. However, for most developing states, the blessing of these natural resources strangely
tends to turn disadvantageous; a phenomenon that has been distinctly identified in the literature as the resource curse'. This paper examines that
phenomenon, using Nigeria as a case study given the serious environmental, political and socio-economic challenges occasioned by the country's
exploitation of its oil and gas endowment. The paper particularly considers the impact of the statutory intervention in Nigeria to reverse the trend through
the instrumentality of the Nigeria Extractive Industries Transparency Initiative Act (NEITI Act) 2007. The paper further explores what could be the most
effective means of containing the said problems in light of their implications for the future of the country and its people.
ISSN: 2210-9730
eISSN: 1708-7384
Record 32 of 96
Title: Exogenous Resource Shocks and Economic Freedom
Author(s): O'Reilly, C (O'Reilly, Colin); Murphy, RH (Murphy, Ryan H.)
Source: COMPARATIVE ECONOMIC STUDIES Volume: 59 Issue: 3 Pages: 243-260 DOI: 10.1057/s41294-017-0028-2 Published: SEP 2017
Abstract: An extensive literature has identified the tendency of natural resource rents to inhibit the development of quality institutions, though few studies
have investigated the effects on economic institutions. We use a data set of plausibly exogenous ''giant'' oil field discoveries as a means of testing whether
the presence of large resource rents impacts a country's economic institutions. We find evidence of short run effects of these discoveries on the size of
government spending, but find no evidence of an effect on economic institutions in general. At least for this set of resource discoveries, there is no resource
curse for economic institutions.
Author Identifiers:
O'Reilly, Colin 0000-0002-9691-2017
ISSN: 0888-7233
eISSN: 1478-3320
Record 33 of 96
Title: Commodity price shocks, growth and structural transformation in low-income countries
Author(s): McGregor, T (McGregor, Thomas)
Source: QUARTERLY REVIEW OF ECONOMICS AND FINANCE Volume: 65 Pages: 285-303 DOI: 10.1016/j.qref.2017.01.006 Published: AUG 2017
Abstract: This paper uses a panel-VAR approach to estimate both the dynamic and structural macroeconomic response of resource-rich, low-income
countries to global commodity price shocks. I use a block recursive ordering, as well as a simple Choleski decomposition, to identify structural commodity
price shocks for a set of developing countries. The block recursive identification strategy assumes only that global macroeconomic conditions do not
respond to individual low-income country conditions contemporaneously. The results suggest that a one standard deviation increase in commodity prices
raises per capita income in developing countries by 0.26% and government spending and investment by 4.4% and 12.4%. The effects are larger for less
developed countries, economies with fixed exchange rate regimes and those that are more depended on commodity exports. Commodity price shocks also
result in significant transformation of these economies, with the share of value-added in manufacturing contracting by 0.17-0.22 percentage points. Whilst
these effects may appear small, they represent the effect of exogenous commodity price shocks that are not due to changes in aggregate demand or global
financial conditions. This suggests that commodity price movements alone may be less important in explaining the volatility of low-income country growth
than other explanations. Taken together, these results present a more nuanced picture of the 'resource curse' in poor countries. Whilst per capital income
levels are positively affected by resource booms, the potential for de-industrialisation does exist. The channel through which this link operates appears to be
the real exchange rate, with resource booms leading to appreciation pressures. To illustrate the relevance of these results, I investigate the impact of the
recent oil price collapse on the Nigerian economy. (C) 2017 Board of Trustees of the University of Illinois. Published by Elsevier Inc. All rights reserved.
ISSN: 1062-9769
eISSN: 1878-4259
Record 34 of 96
Title: Oil in Ecuador, 2000-2015: curse, blessing or just a resource?
Author(s): Caria, S (Caria, Sara)
Source: IBEROAMERICAN JOURNAL OF DEVELOPMENT STUDIES Volume: 6 Issue: 2 Pages: 125-147 DOI: 10.26754/ojs_ried/ijds.248 Published: JUL-DEC
2017
Abstract: Oil has been Ecuador's most important export product since the 70's; the current low prices of commodities have placed the need of a productive
diversification in the center of the debate about development strategies. In this paper, it is aimed at establishing whether the dependence on oil's exports
has been an obstacle for the diversification of Ecuadorian economy during the recent commodities boom (2003-2014), as the "product trap" thesis suggests.
For this purpose, a survey on the literature about the so called "resources' curse" will be made in order to identify the main rationales that support this thesis
and the policy recommendations that literature on this topic suggests to oil-rich countries. Then, the Ecuadorian case will be analyzed to search evidence
that confirm the existence of an "oil curse" in Ecuador. The results show that oil dependence and low diversification are empirically associated, but no clear
causal relation can be established between them.
ISSN: 2254-2035
Record 35 of 96
Title: The Myth of the Resource Curse: A Case Study of Algeria
Author(s): Akacem, M (Akacem, Mohammed); Cachanosky, N (Cachanosky, Nicolas)
Source: JOURNAL OF PRIVATE ENTERPRISE Volume: 32 Issue: 2 Pages: 1-15 Published: SUM 2017
Abstract: This paper compares Algeria to Norway in the context of the resource curse theory. This paper uses Algeria as a case study where the natural
resource curse is contrasted with the argument that the problem is to be found in weak or ill-designed institutions: namely, that the problem of
underdeveloped countries with valuable resources is an institutional one. An alternative explanation for the presumed ills of oil-rich nations examines the
role of weak or ill-designed institutions. We find that from 1970 through 2010, Algeria's short-, medium-, and long-term growth rates are not affected by the
presence of natural resource rents in an economically significant way. We argue that the role of institutions advances a more consistent explanation for the
much-discussed and analyzed alleged negative impact of natural resources on the economy, and offers a way out of economic underperformance in terms of
policy implications.
ISSN: 0890-913X
Record 36 of 96
Title: Oil rent, the Rentier State/Resource Curse Narrative and the GCC Countries
Author(s): Rutledge, E (Rutledge, Emilie)
Source: OPEC ENERGY REVIEW Volume: 41 Issue: 2 Pages: 132-152 DOI: 10.1111/opec.12098 Published: JUN 2017
Abstract: Despite the fact that ` rent' underpins both Rentier State (RS) and Resource Curse (RC) theses, external factors that help shape perceptions of it and
determine its value, are rarely factored in. The purpose of this article is to suggest reasons for this shortcoming and, with particular reference to the `
archetypal candidate' Gulf Cooperation Council countries, question the utility per se of the RS/RC paradigm (RS outcomes can only manifest within RC
contexts). To explain the default and long-standing utilisation of the construct across the social sciences-in spite of the frequent need to detour around
contrary data-this paper points firstly to the way in which rent is now popularly perceived (from logically grounded, to excessively unwarranted) and
secondly, to the fact that ` oil' lies at the paradigm's heart. It is a commodity that various Western polities once had unfettered control over; no other
depletable natural resource in the past century has held such global economic significance (external actors clearly have a vested interest). Lastly, to
underscore the need for a reappraisal of the RS/RC analytical framework, some data are presented that demonstrate that the GCC countries have not,
comparatively speaking, suffered the deleterious consequences that the paradigm stipulates.
ISSN: 1753-0229
eISSN: 1753-0237
Record 37 of 96
Title: Location, Location, Location: The Ethno-Geography of Oil and the Onset of Ethnic War
Author(s): Li, H (Li, Hui); Tang, SP (Tang, Shiping)
Source: CHINESE POLITICAL SCIENCE REVIEW Volume: 2 Issue: 2 Pages: 135-158 DOI: 10.1007/s41111-017-0062-2 Published: JUN 2017
Abstract: Challenging and improving upon existing studies, we develop a more integrated and fine-grained theory regarding oil and the onset of ethnic war
and present systematic quantitative evidences for our theory. We contend that it is the ethno-geographical location of oil rather than oil income, rent, or
relative distribution/concentration that really connects oil with the onset of ethnic war. When the core territory of a minority group has a significant amount
of oil, the minority group is more likely to rebel against a central state dominated by another group and oil is strongly associated with the onset of ethnic war.
In contrast, when oil is located with the core territory of a dominant majority group or that a country has a fairly even distribution of ethnic groups and no
group can lay an exclusive claim to oil, oil is not associated with a higher risk of ethnic war. We construct two new indicators regarding the ethno-
geographical location of oil from two different sources and test our hypotheses with the two new indicators. Statistical results strongly support our
hypotheses. Together with evidences from case studies with process-tracing that demonstrate the mechanisms singled out by our theory really did operate
in driving ethnic wars in an accompanying paper, we provide a more complete and close-to-definitive answer to the question whether and how oil is
associated with the onset of ethnic war. Our exercise also points to a broader theory regarding the ethnogeography of commodity-type mineral resource with
the onset of ethnic war.
ISSN: 2365-4244
eISSN: 2365-4252
Record 38 of 96
Title: From Double Diversification to Efficiency and Growth
Author(s): Gylfason, T (Gylfason, Thorvaldur)
Source: COMPARATIVE ECONOMIC STUDIES Volume: 59 Issue: 2 Pages: 149-168 DOI: 10.1057/s41294-017-0021-9 Published: JUN 2017
Abstract: The paper discusses economic and political diversification as two sides of the same coin, presenting them as parallel potential determinants of
long-run economic efficiency and growth. Three different measures of economic diversification are discussed: the Finger-Kreinin index of export
diversification, the Herfindahl-Hirschman index of market concentration, and the Theil index of export diversification. Three measures of political
diversification are also discussed: indices of political rights and civil liberties and the Polity2 index of democracy. All six measures of diversification are shown
to vary directly with one another as well as with per capita incomes across a large sample of countries.
ISSN: 0888-7233
eISSN: 1478-3320
Record 39 of 96
Title: Economic Institutions and the Durability of Democracy
Author(s): Boudreaux, CJ (Boudreaux, Christopher J.); Holcombe, RG (Holcombe, Randall G.)
Source: ATLANTIC ECONOMIC JOURNAL Volume: 45 Issue: 1 Pages: 17-28 DOI: 10.1007/s11293-016-9522-6 Published: MAR 2017
Abstract: Why do some democracies persist while others break down? Some studies have suggested that economic development decreases the likelihood of
authoritarian reversal, which is consistent with Milton Friedman's argument that economic freedom is necessary for political freedom. An empirical
investigation of countries that have transitioned to democratic governments since World War II shows that higher quality economic institutions increase the
durability of those democratic governments. This supports Friedman's observation about the relationship between economic and political institutions.
ISSN: 0197-4254
eISSN: 1573-9678
Record 40 of 96
Title: Reduction Of An Economy's Raw Material Dependence And The Human Capital Of A Country
Author(s): Perepelkin, V (Perepelkin, Viacheslav); Perepelkina, E (Perepelkina, Elena)
Source: COMPARATIVE ECONOMIC RESEARCH-CENTRAL AND EASTERN EUROPE Volume: 20 Issue: 1 Pages: 53-73 DOI: 10.1515/cer-2017-0004 Published:
MAR 2017
Abstract: This paper evaluates the raw material dependence of two export-oriented oil and gas extracting countries. We find evidence of presence of the
Dutch disease in both countries and of the resource curse in Russia. Reduction of volumes of crude oil and natural gas production and exports, compensated
by the growth of value added in other kinds of economic activity, suggests that Norway is gradually overcoming the Dutch disease by means of expanded
reproduction of human capital. On the other hand, extraction of hydrocarbons may remain a driver of the Russian economic growth.
Author Identifiers:
Perepelkin, Vyacheslav K-8049-2017 0000-0003-2753-7038
ISSN: 1508-2008
eISSN: 2082-6737
Record 41 of 96
Title: Oil, Laws, and Female Labor Force Participation
Author(s): Majbouri, M (Majbouri, Mahdi)
Source: INTERNATIONAL ADVANCES IN ECONOMIC RESEARCH Volume: 23 Issue: 1 Pages: 91-106 DOI: 10.1007/s11294-016-9621-9 Published: FEB 2017
Abstract: Despite the rapid rise of women's education and the fall of their fertility rates in the Middle East and North Africa (MENA), female labor force
participation (FLFP) rates remain low. This paper argues that oil and gas rents and Islamic family law jointly matter. Controlling for country and year fixed-
effects in a long panel dataset, it shows that per capita oil and gas rents reduce FLFP rates in countries with Islamic family law more than others. The results
are robust to econometric methodology and to controlling for the interaction of rents and all other time-constant factors that are common across the MENA
region, such as culture, social norms, and institutions. Moreover, the results cannot be replicated by substituting historical plough use, a strong predictor of
gender discrimination, in place of Islamic family law. Policy implications are discussed.
Author Identifiers:
Majbouri, Mahdi 0000-0003-4219-4061
ISSN: 1083-0898
eISSN: 1573-966X
Record 42 of 96
Title: PARADOX OF "RESOURCE CURSE": CROSS-COUNTRY ANALYSIS
Author(s): Sadovskaya, VO (Sadovskaya, Valerya O.); Shmat, VV (Shmat, Vladimir V.)
Source: MIROVAYA EKONOMIKA I MEZHDUNARODNYE OTNOSHENIYA Volume: 61 Issue: 3 Pages: 25-35 DOI: 10.20542/0131-2227-2017-61-3-25-
35 Published: 2017
Abstract: The problem of the influence of the resources on the economic growth is dualistic. On the one hand, the abundance of resources is a factor favoring
socio-economic development of the countries and territories. On the other hand, there were preconditions for the occurrence and strengthening of the effect
of the dependence on resources. The dependence on resources in its extreme form is expressed in the effect of the resource curse. The resource curse
problem has been studied for more than two decades. During this time researchers have created a set of econometric models, with the help of which the
effect of resources and other factors (primarily-institutes) on the economic growth has been evaluated. But most of these studies were carried out for the
period of 1970-1980's, when there was a slowdown in the economic growth in major oil-exporting countries. This fact was the basis for the extension of the
resource curse thesis. Despite the apparent persuasiveness and conclusiveness, this thesis has been challenged by many researchers. The failure of the
resource curse theory was even more obvious in the 1990's and 2000's. This explains the relevance of modern cross-country econometric studies which were
carried out by the authors. It is also necessary to correct the views on the resource factor. It is important to distinguish between a resource availability factor
and a factor of resource dependence, that do not always exist together and that have a different impact on economic growth. The article presents the results
of the cross-country econometric studies of the effects of resource supply and resource dependency, coupled with the influence of institutional factors.
Analysis was carried out about the likely consequences in terms of economic growth. And the situation taking place in Russian economy was estimated. The
overall conclusion is that resources themselves cannot be a curse, and only the excessive resource dependence has a negative effect on the economy.
Specific risks and increased uncertainty are essential in the development of a resource-based economy. These conclusions are relevant for many countries
including Russia.
ISSN: 0131-2227
Record 43 of 96
Title: HARNESSING HYDROCARBON REVENUES: REFLECTIONS ON RUSSIA
Author(s): van der Ploeg, F (van der Ploeg, F.); Malova, AS (Malova, A. S.); Saltan, AA (Saltan, A. A.)
apps.webofknowledge.com.login.ezproxy.library.ualberta.ca/OutboundService.do?action=go&displayCitedRefs=true&displayTimesCited=true&displ… 10/13
Source: VESTNIK SANKT-PETERBURGSKOGO UNIVERSITETA-EKONOMIKA-ST PETERSBURG UNIVERSITY JOURNAL OF ECONOMIC STUDIES Volume: 33 Issue:
3 Pages: 348-363 DOI: 10.21638/11701/spbu05.2017.301 Published: 2017
Abstract: Economies, like Russia, blessed with resource abundance, do not usually perform well during the period of commodity price boom. The optimal
policy of managing resource revenues prescribes to commit the permanent income rule to smooth the resource dividend in efficiency units and to smooth
the real exchange rate. During the commodity price boom, Russia followed partially this prescribed policy, but the situation changed a er the crash of oil
and gas prices in 2014. Possible ways to overcome the consequences of low oil and gas prices are discussed, paying particular attention to the lack of
economic complexity and the need for diversification and capabilities for growth and development of the Russian economy.
Author Identifiers:
Saltan, Andrey G-2514-2015 0000-0002-7921-986X
ISSN: 1026-356X
eISSN: 2542-226X
Record 44 of 96
Title: Alternatives to local content requirements in resource-rich countries
Author(s): Kolstad, I (Kolstad, Ivar); Kinyondo, A (Kinyondo, Abel)
Source: OXFORD DEVELOPMENT STUDIES Volume: 45 Issue: 4 Pages: 409-423 DOI: 10.1080/13600818.2016.1262836 Published: 2017
Abstract: This paper discusses whether and to what extent resource-rich developing countries should introduce local content policies, i.e. requirements to
include local inputs in petroleum extraction activities of multinational corporations. We argue that local content needs to be seen as a public expenditure
question, since local content requirements increase multinational costs, and hence reduce the taxes which can be extracted from these companies. This
implies that there are opportunity costs in imposing local content requirements, since the forgone taxes can be used in others ways which could potentially
do more to improve development prospects. Moreover, past experiences of resource-rich developing countries suggest that local content policies can
exacerbate key problems of patronage and rent-seeking which resource rents generate, increasing the chance that the resource wealth will prevent rather
than help development. These arguments suggest that an optimal local content policy in the context of flawed institutions is a more limited one than those
typically pursued by developing countries with recently discovered petroleum reserves. Using qualitative data from Tanzania, a country with recent
discoveries of substantial natural gas deposits, we analyze why local content tends to become such a central issue in debates and policy processes, despite
its potentially problematic aspects.
ISSN: 1360-0818
eISSN: 1469-9966
Record 45 of 96
Title: Algeria and the natural resource curse: oil abundance and economic growth
Author(s): Chekouri, SM (Chekouri, Sidi Mohammed); Chibi, A (Chibi, Abderrahim); Benbouziane, M (Benbouziane, Mohamed)
Source: MIDDLE EAST DEVELOPMENT JOURNAL Volume: 9 Issue: 2 Pages: 233-255 DOI: 10.1080/17938120.2017.1366772 Published: 2017
Abstract: In this paper, we examine the interaction between oil exports' revenues and long-run economic growth in Algeria over the period 1979-2013.
Advanced econometric procedures including the cointegration VARX (VAR with exogenous variables) model, over-identifying restrictions, bootstrapping,
persistent profiles and Generalized Impulse Response Function are utilized in the empirical analysis. The results show a strong and positive association
between oil revenue and long-run economic growth, but negative linkages between the volatility of oil revenues and growth in Algeria. Our impulse response
analysis also provides evidence that a positive shock in oil revenues increases the level of real output, and appreciates the real exchange rate.
Author Identifiers:
Benbouziane, Mohamed B-2173-2012 0000-0002-9530-4159
ISSN: 1793-8120
eISSN: 1793-8171
Record 46 of 96
Title: Does bad company corrupt good character? A spatial econometric analysis of oil resource management in Africa
Author(s): Ackah, I (Ackah, Ishmael)
Source: INTERNATIONAL JOURNAL OF ENERGY SECTOR MANAGEMENT Volume: 11 Issue: 3 Pages: 480-502 DOI: 10.1108/IJESM-10-2016-0002 Published:
2017
Abstract: Purpose - A widely held belief before the 1990s - referred to as the oil-blessing hypothesis - was that oil discovery and production should promote
economic growth and development and lead to poverty reduction. However, the so-called 'oil-curse' hypothesis, postulated by Sachs and Warner in 1995,
challenged this belief, thus provoking a heated debate on the theme. The oil-curse hypothesis has been traditionally tested by means of cross-sectional and
panel-data models. The author goes beyond these traditional methods to test whether the presence of spatial effects can alter the hypothesis in oil-
producing African countries. In particular, this paper aims to investigate the effects on economic growth of oil production, oil resources and oil revenues
along with the quality of democratic institutions, investment and openness to trade.
Design/methodology/approach - A Durbin spatial model, a cross-sectional model and panel-data model are used.
Findings - First, the validity of the spatial Durbin model is vindicated. Second, consistently with the oil-curse hypothesis, oil production, resources, rent and
revenues have a negative and generally significant effect on economic growth. This result is robust for across the panel data, spatial Durbin and spatial
autoregressive models and for different measures of spatial proximity between countries. Third, the author finds that the extent to which the business
environment is perceived as benign for investment has a positive and marginally effect on economic growth. Additionally, economic growth of a country is
further stimulated by a spatial proximity of a neighbouring country if the neighbouring country has created strong institutions protecting investments.
apps.webofknowledge.com.login.ezproxy.library.ualberta.ca/OutboundService.do?action=go&displayCitedRefs=true&displayTimesCited=true&displa… 11/13
Fourth, openness to international trade has a positive and marginally significant effect on economic growth.
Originality/value - This paper examines theories and studies that have been done before. However, as the related literature on the growth-resource
abundance nexus has rarely examined spatial effects, this study seeks to test jointly the spatial effect and the neighbouring effect on the oil curse hypothesis.
ISSN: 1750-6220
eISSN: 1750-6239
Record 47 of 96
Title: Oil exports and non-oil exports Dutch disease effects in the Organization of Petroleum Exporting Countries (OPEC)
Author(s): Karamelikli, H (Karamelikli, Huseyin); Akalin, G (Akalin, Guray); Arslan, U (Arslan, Unal)
Source: JOURNAL OF ECONOMIC STUDIES Volume: 44 Issue: 4 Pages: 540-551 DOI: 10.1108/JES-01-2016-0015 Published: 2017
Abstract: Purpose - The purpose of this paper is to examine the dynamic relationship between oil exports, non-oil exports, imports and economic growth in
the Organization of Petroleum Exporting Countries (OPEC), covering the period 1972-2013 by using panel data analysis.
Design/methodology/approach - The results from the dynamic panel data methods are as follows: there exists the cross-sectional dependence on each
variable. According to the cross-sectionally augmented panel unit root tests, all variables are stationary at the first difference. Westerlund and Edgerton
(2007) LM Bootstrap cointegration test shows that there is a long-term relationship between variables.
Findings - The results obtained by the Common Correlated Effects (CCE) estimator indicate that the increase in oil exports has a positive impact on the GDP of
all countries, while the increase in oil exports has a negative impact on the non-oil exports of some countries.
Originality/value - In this study, the relationship between oil exports, economic growth, imports and non-oil exports of the 12 OPEC member countries is
tested by considering the cross-sectional dependence between 1972 and 2013. In the study, the authors found a positive relationship as a result of
researching the impact of oil exports on economic growth in the frame of CCE panel estimations results.
Author Identifiers:
Karamelikli, Huseyin P-3391-2015 0000-0001-7622-0972
ISSN: 0144-3585
Record 48 of 96
Title: Financial development, oil dependence and economic growth Evidence from the Republic of Yemen
Author(s): Badeeb, RA (Badeeb, Ramez Abubakr); Lean, HH (Lean, Hooi Hooi)
Source: STUDIES IN ECONOMICS AND FINANCE Volume: 34 Issue: 2 Pages: 281-298 DOI: 10.1108/SEF-07-2014-0137 Published: 2017
Abstract: Purpose - This paper aims to examine the validity of the question of whether oil dependence has a negative impact on the relationship between
financial development and economic growth in Yemen.
Design/methodology/approach - The auto-regressive distributed lag approach for cointegration is used to examine the relationship between financial
development and economic growth by capturing the impact of oil dependence on this relationship. The Granger causality test, based on a vector error
correction model (VECM) framework, is used to investigate the causal relationships between financial development and economic growth.
Findings - The most interesting finding is the negative sign of interaction term between financial development and oil dependence, which implies that the
positive effect of financial development on economic growth decreases with the increasing oil dependence. The result of the VECM Granger causality test
revealed the existence of unidirectional causality running from financial development to economic growth.
Research limitations/implications - The short sample period and the worry of losing degrees of freedom limited us when including control variables in the
model. If the data are available in the future, other control variables can be added.
Practical implications - The government should reduce the level of oil dependence in Yemen by diversifying the country's economy. Accelerating the pace
and efficiency of the financial sector will bear fruitful returns in this regard. The government could achieve this strategy by playing a more proactive role in
encouraging the expansion of credit to enable the financial sector to provide a more efficient intermediary role in mobilizing domestic savings and
channeling them to productive investments across various economic sectors.
Originality/value - This is the first study to examine the impact of oil dependence on the finance-growth nexus in Yemen. A new indicator for oil dependence
is also proposed.
Author Identifiers:
Lean, Hooi Hooi A-5754-2010 0000-0002-6847-0274
ISSN: 1086-7376
eISSN: 1755-6791
Record 49 of 96
Title: Alberta, Canada, royalty review and its lessons for resource economies
Author(s): Onifade, TT (Onifade, Temitope Tunbi)
Source: JOURNAL OF ENERGY & NATURAL RESOURCES LAW Volume: 35 Issue: 2 Pages: 171-196 DOI: 10.1080/02646811.2017.1298698 Published: 2017
Abstract: Alberta's royalty debate has focused on rates, exhibiting a myopic approach to the royalty system. Addressing this, the paper qualitatively
appraises the Alberta royalty review from a socio-legal standpoint. It claims that the review reveals the context and lessons that could displace the myopia of
the royalty debate: this might lead to a holistic understanding of the economic interests of the government and the private sector in the royalty system, and
the moderation of claims over royalties. The context revolves around a consideration of how resource development works, the nature of royalty and the
changing landscape of the resource sector, and the lessons are on the nuances that should guide the royalty system, metrics that should apply in the
calculation of royalties, broader implications of the royalty system, and backing up royalties in case of the unexpected. Overall, the paper presents broader
lessons useful to resource economies.
Author Identifiers:
Onifade, Temitope 0000-0001-8635-9062
ISSN: 0264-6811
eISSN: 2376-4538
Record 50 of 96
Title: The Algerian economy from 'oil curse' to 'diversification'?
Author(s): Lefevre, R (Lefevre, Raphael)
Source: JOURNAL OF NORTH AFRICAN STUDIES Volume: 22 Issue: 2 Pages: 177-181 DOI: 10.1080/13629387.2017.1281561 Published: 2017
ISSN: 1362-9387
eISSN: 1743-9345
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