CEU Electronic Theses and Dissertations, 2017
| Author | Naghiyev, Sarkhan |
|---|---|
| Title | Natural Resource Abundance and Economic Growth in Hydrocarbon Exporting Countries (1996-2015) |
| Summary | Growth literature heavily argues that resource-rich economies are “cursed” by their own natural resources. The effect of natural resource abundance on economic growth in eighteen middle income hydrocarbon exporting countries was investigated in this thesis. In order to analyze this relationship, a Fixed Effects model with panel data covering the years between 1996 and 2015 was employed. In contrast with previous studies, this thesis identified both economically and statistically significant positive relationship between natural resource richness and economic growth after controlling for traditional economic growth determinants and possible transmission channels through which natural resource abundance may affect the growth. However, it is acknowledged that the results might be driven by high hydrocarbon price environment during the observation period. Nevertheless, the findings indicate strong resource income dependence in the sample countries. The problem can be addressed with commitment to human capital development and institutional quality improvement, also by diversifying the economy. |
| Supervisor | Pagano, Ugo |
| Department | Economics MA |
| Full text | https://www.etd.ceu.edu/2017/naghiyev_sarkhan.pdf |
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