PSN: Resource Curse (Topic)最新文献

{"title":"Finansal Açıdan Hollanda Hastalığı ve Doğal Kaynak Lanetinin Paradoksal Etkileri (Paradoxical Effects of the Dutch Disease and Natural Resource Curse from the Financial Perspective: A Literature Review)","authors":"Cevdet Kizil, Vedat Akman, Ilkay Erarslan","doi":"10.2139/ssrn.3899177","DOIUrl":"https://doi.org/10.2139/ssrn.3899177","url":null,"abstract":"Turkey Abstract: Bu makale, bir ülkede doğal kaynak kapsamında petrol ve doğalgaz rezervlerinin bulunması durumunda bu durumun ülke üzerindeki ekonomik etkilerini bulmayı amaçlamaktadır. Dolayısıyla, Hollanda Hastalığı’nın uzun dönemde ülke ekonomisine olacak muhtemel negatif etkileri hakkında var olan literatürün güçlü bir destek sağlayıp sağlamadığı araştırılmaktadır. Literatür taraması, bir ülkenin önemli miktarda petrol ve doğalgaz yatağı bulması sonucunda büyük ölçekli ihracata başlamasının, ülkenin reel döviz kurunun değer kazanmasına, böylece yurtdışı rekabet gücünün azalmasıyla ülkenin geleneksel ihracat kalemlerinin ve geleneksel olmayan ihracat kalemlerinin daralmasına neden olacağını vurgulamaktadır. Bu sürecin ekonominin yapısal değişimiyle sonuçlanarak, bu yeni yapılanmada işsizliğin artacağı öngörülmektedir. Buna karşın, petrol ve doğalgaz ithalatından elde edilecek tasarrufların kalkınmayı teşvik etmek için kullanılabilecek olumlu bir faktör olduğu kabul edilir. Bu durumda asıl kritik mesele, bir ülkede petrol ve doğalgaz rezervlerinin bulunması durumunda olumlu ile olumsuz etkilerine birlikte bakabilmektedir. English Abstract: This article aims to find the economic effects on a country if the mentioned country has a sudden oil and gas reserves discovery in terms of natural resources. Therefore, it is investigated whether the existing literature on the possible negative effects of the Dutch Disease on the country's economy in the long term provides a strong support. The literature review emphasizes that, the start of largescale exports as a result of a country's finding a significant amount of oil and gas deposits will cause the country's real exchange rate to gain value, thus reducing its international competitiveness, and the contraction of the country's traditional export items and non-traditional export items. This process predicts that, unemployment will increase in this new structuring, causing an unemployment rise in the structural change of economy. On the other hand, savings to be gained from oil and gas imports are considered as a positive factor that can be used to encourage economic development. In this situation, the critical issue is to consider both the positive and negative impacts together when oil and gas reserves are discovered in a particular country.","PeriodicalId":380624,"journal":{"name":"PSN: Resource Curse (Topic)","volume":"38 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-10-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130913364","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"On the Transmission Channels for the Resource Curse","authors":"K. Arin, Elias Braunfels, Christina Zenker","doi":"10.2139/ssrn.3448861","DOIUrl":"https://doi.org/10.2139/ssrn.3448861","url":null,"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.","PeriodicalId":380624,"journal":{"name":"PSN: Resource Curse (Topic)","volume":"106 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-07-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124356873","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"De-Industrialization Patterns of Azerbaijan: Potential Outcomes of Dutch Disease Syndrome","authors":"I. Niftiyev","doi":"10.2139/ssrn.3748107","DOIUrl":"https://doi.org/10.2139/ssrn.3748107","url":null,"abstract":"This paper focuses on the particular channels of de-industrialization processes of Azerbaijan considering the Dutch disease syndrome as the theoretical framework. After the emergence of the Dutch disease hypotheses, many resource-rich countries have been the main research object of it. One consequence of the Dutch disease syndrome is a shrinking manufacturing sector compared to the booming sector and the services sector. In order to shed light on this aspect of the Azerbaijan economy, important literature examples were examined and mainly descriptive statistics applied to visualize the economy’s most recent timeline. This research mainly brings back the actuality of the Dutch disease phenomena to Azerbaijan’s economy, depicting and comparing policy responses of the national government.","PeriodicalId":380624,"journal":{"name":"PSN: Resource Curse (Topic)","volume":"16 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-10-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126785262","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Remittance, Exchange Rate and Dutch Disease: The Case of Bangladesh","authors":"S. Amin, Muntasir Murshed","doi":"10.21102/IRBRP.2017.09.132.07","DOIUrl":"https://doi.org/10.21102/IRBRP.2017.09.132.07","url":null,"abstract":"Bangladesh had historically relished the fortune of being a labor surplus nation and therefore had accumulated remittances in large volumes over the last four decades. Thus, the concept of remittance-effectiveness in shaping the economy of Bangladesh emerges with utmost significance and importance amidst researchers and policy makers all around the globe. The aim of this paper is to identify the dynamics of real exchange rate movements following inflow of remittances in Bangladesh over the period of 1980 to 2013 and whether such movements caused Dutch disease problem in the country. This paper fills the gap in the empirical literature using the ARDL bounds testing approach to investigate the causal relationship between foreign remittance and real exchange rate exclusively in the context of Bangladesh. Augmented Dickey Fuller (ADF) test, ARDL cointegration test, ARDL Error Correction Model (ECM) approach and ARDL Engle-Granger causality test are used in the paper. The results confirm that there is a negative correlation between remittance and real exchange rate which implies that a rise in the volume of remittance inflows exert appreciative pressures on Bangladesh’s real exchange rate. However, such real exchange rate movements were not translated into Dutch disease problems.","PeriodicalId":380624,"journal":{"name":"PSN: Resource Curse (Topic)","volume":"61 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131469531","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Diagnosing Dutch Disease","authors":"Dan Ciuriak","doi":"10.2139/ssrn.2540108","DOIUrl":"https://doi.org/10.2139/ssrn.2540108","url":null,"abstract":"Dutch Disease emerged as a journalistic label that subsequently prompted theoretic treatments in various fields, including trade, growth and development, fiscal policy, monetary policy, industrial policy, and public policy management. The resulting body of theoretical and empirical work demonstrates that resources are not a curse per se but the challenges of managing windfall benefits are great. Because a positive diagnosis is an implicit criticism of public policy and puts vested interests at risk, Dutch Disease is a hot button issue everywhere and everywhen. By the same token, to sift through the arguments that are made in any specific context requires a formal framework that serves as a bulwark against partial and potentially tendentious analysis. In this paper, I suggest a thirteen-point template for diagnosing Dutch Disease, which importantly includes taking into account the lessons from modern firm-level trade theory and empirics.","PeriodicalId":380624,"journal":{"name":"PSN: Resource Curse (Topic)","volume":"22 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-12-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129038347","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Diversification, Dutch Disease, and Economic Growth: Options for Uganda","authors":"Thorvaldur Gylfason, J. Nganou","doi":"10.4324/9781315660981-6","DOIUrl":"https://doi.org/10.4324/9781315660981-6","url":null,"abstract":"Natural resource discoveries, even when fairly modest in terms of the revenues they are expected to generate, can have significant macroeconomic effects and implications for the conduct of fiscal and monetary policy. In this respect, Uganda is no different from other oil-rich countries. In five main ways, all of which suggest the need for economic diversification as an efficient risk management strategy, the Dutch disease manifests itself through (i) An appreciation of the local currency in real terms, undermining the profitability of other export industries, and of local industries competing with imports by encouraging imports. (ii) The increased volatility of the real exchange rate induced by oscillating oil prices in world markets, which reduces investment and economic growth over time. (iii) Wage increases in the resource-intensive sector that spill over to the non-resource-based sector, further hampering employment and investment in the non-resource-based sector. (iv) Socially counterproductive rent seeking (and even plundering) in the absence of effective legal and institutional mechanisms that would ensure resource rents accrue to the rightful owners with minimal leakages, and are managed for the benefit of all. (v) Crowding out, by which natural capital (if not well managed) tends to undermine other types of capital essential to economic development, including human and social capital.","PeriodicalId":380624,"journal":{"name":"PSN: Resource Curse (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-11-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129040806","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Remittances and the Dutch Disease in Sub-Saharan Africa: A Dynamic Panel Approach","authors":"E. Owusu-Sekyere, Renee Koekemoer Van Eyden, Francis M. Kemegue","doi":"10.5709/CE.1897-9254.146","DOIUrl":"https://doi.org/10.5709/CE.1897-9254.146","url":null,"abstract":"This paper investigates the effect of remittance inflows on the real exchange rate in Sub-Saharan Africa (SSA) using annual data from 1980 to 2008 for 34 SSA countries, generalised method of moments by Arellano and Bover (1995) and feasible generalised least squares by Parks (1967) and Kmenta (1971, 1986). We find that when cross-sectional dependence and individual effects are controlled for, remittances to SSA as a whole appreciate the underlying real exchange rate of recipient countries. However the Dutch-disease effect is not experienced via the loss of export competitiveness, because the exchange rate appreciation is mitigated by monetary policy positioning and overdependence on imports due to low levels of domestic production in these countries. We also find reverse causality between remittances and the real exchange rate. (This abstract was borrowed from another version of this item.)","PeriodicalId":380624,"journal":{"name":"PSN: Resource Curse (Topic)","volume":"9 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-09-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130954169","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Should Canada Worry About a Resource Curse?","authors":"A. Gelb","doi":"10.11575/SPPP.V7I0.42453","DOIUrl":"https://doi.org/10.11575/SPPP.V7I0.42453","url":null,"abstract":"An abundance of natural resources might seem like something any nation would want to be blessed with. But in some countries, a bounty of energy, minerals and other resources can become as much a curse as a blessing. The difference between whether resources benefit a country’s people, or lead to adversity and even suffering, has everything to do with how a country manages its resources. It is the difference between a resource-rich, free and democratically accountable country, such as Canada, and a resourcerich, corrupt, violent and impoverished country, such as the Democratic Republic of Congo. In many resource-rich countries, the effect of ample natural wealth has been to sever the accountability link between citizens and government, slowing or even reversing democratic and social progress, while mostly enriching a few politically favoured constituencies. Canada’s plentiful resources are an indisputable blessing, and those critics of federal industrial policy who compare this country to illiberal and corrupt “petro-states” are being either ignorant or deceitful. There are numerous critical factors at work here that ensure that the Canadian public benefits, rather than suffers, from our natural endowments. We have a diversity of resources, as opposed to being reliant on a single commodity, and our natural-resource sector makes up only a small portion of our larger economy. We have well-established and diligently enforced standards for financial transparency and accountability, in both the private and public sectors. But, just as importantly, there is a national consensus in Canada that public wealth amassed from resource rents should be invested in strengthening human capital, through education, training and social services, as well as in improved infrastructure and better governance, eventually parlaying natural-resource wealth into a yet larger, further-diversified economy. But Canada — and especially resource-rich provinces, such as Alberta — cannot take these factors for granted. A combination of complacency and natural wealth has the potential to turn a blessing into a curse. Even once reasonably democratic and accountable countries, such as Venezuela, have been caught unprepared on the dangerous double edge of a resource boom and have seen their governance systems substantially eroded. Developing the fiscal capacity to withstand commodity-market shocks, creating effective and durable checks and balances on systems of legislative power, enforcing transparency in budgeting and public-investment management, and maximizing tax efficiencies and tax administration, are all areas where Canadians can and should focus their efforts. These are the fundamental safeguards that will ensure our ample natural resources continue to be seen by our citizens as a blessing and not — as is the unfortunate case in so many other countries — a curse.","PeriodicalId":380624,"journal":{"name":"PSN: Resource Curse (Topic)","volume":"122 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-01-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127068057","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Do Sufficient Institutions Alter the Relationship between Natural Resources and Economic Growth?","authors":"A. Zeynalov","doi":"10.2139/ssrn.2413867","DOIUrl":"https://doi.org/10.2139/ssrn.2413867","url":null,"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.","PeriodicalId":380624,"journal":{"name":"PSN: Resource Curse (Topic)","volume":"19 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-05-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133637008","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}