Growth and volatility in resource-rich countries: Does diversification help?
| العنوان: | Growth and volatility in resource-rich countries: Does diversification help? |
|---|---|
| المؤلفون: | Omar Joya |
| المساهمون: | Groupe de Recherche en Economie Théorique et Appliquée (GREThA), Université de Bordeaux (UB)-Centre National de la Recherche Scientifique (CNRS), Centre National de la Recherche Scientifique (CNRS)-Université de Bordeaux (UB) |
| المصدر: | Structural Change and Economic Dynamics Structural Change and Economic Dynamics, Elsevier, 2015, 35, pp.38-55. ⟨10.1016/j.strueco.2015.10.001⟩ |
| بيانات النشر: | Elsevier, 2015. |
| سنة النشر: | 2015 |
| مصطلحات موضوعية: | Economics and Econometrics, JEL: E - Macroeconomics and Monetary Economics/E.E3 - Prices, Business Fluctuations, and Cycles/E.E3.E32 - Business Fluctuations • Cycles, JEL: C - Mathematical and Quantitative Methods/C.C6 - Mathematical Methods • Programming Models • Mathematical and Simulation Modeling/C.C6.C67 - Input–Output Models, Financial economics, 020209 energy, Diversification (finance), 02 engineering and technology, Monetary economics, Macroeconomic volatility, Resource curse, Volatility swap, 0502 economics and business, 0202 electrical engineering, electronic engineering, information engineering, Economics, 050207 economics, JEL: Q - Agricultural and Natural Resource Economics • Environmental and Ecological Economics/Q.Q3 - Nonrenewable Resources and Conservation/Q.Q3.Q32 - Exhaustible Resources and Economic Development, 05 social sciences, Direct effects, [SHS.ECO]Humanities and Social Sciences/Economics and Finance, Natural resource, Input-Output, Diversification, 8. Economic growth, JEL: O - Economic Development, Innovation, Technological Change, and Growth/O.O1 - Economic Development/O.O1.O14 - Industrialization • Manufacturing and Service Industries • Choice of Technology, Volatility (finance), Natural resources |
| الوصف: | International audience; This paper studies the “natural resources – volatility – growth” link by evaluating the role of economic diversification. I study whether resource-rich countries are able to offset the volatility triggering effects of natural resources by diversifying their economies. Using input–output data, I construct an indicator that captures diversification of the production structure of the economy and density of inter-industry linkages. The results show that resource abundance exerts negative impact on growth through the volatility channel. While the direct effects of natural resources on growth are positive, their adverse indirect effects through volatility could be larger. I find that productive diversification offsets the volatility impact of natural resources. When diversification is controlled for, the negative growth impact of volatility induced by resource abundance disappears. However, the results do not hold true if export concentration measure is used instead of productive diversification. |
| اللغة: | English |
| تدمد: | 0954-349X |
| URL الوصول: | https://explore.openaire.eu/search/publication?articleId=doi_dedup___::0aa124f7c089c61b5295f46c33c2b454 http://hdl.handle.net/20.500.12278/1265 |
| حقوق: | OPEN |
| رقم الأكسشن: | edsair.doi.dedup.....0aa124f7c089c61b5295f46c33c2b454 |
| قاعدة البيانات: | OpenAIRE |
| تدمد: | 0954349X |
|---|