Economic Growth in Countries Depended on Natural Resource (By emphasizing on Oil Resources)
Subject Areas : Labor and Demographic Economicskazem yavari 1 , mahdieh rezagholizadeh 2 , majid aghaee 3
1 - دانشیار دانشگاه تربیت مدرس
2 - دانشجوی دکتری اقتصاد دانشگاه تربیت مدرس
3 - دانشجوی دکتری دانشگاه تربیت مدرس
Keywords: Economic Growth, Generalized Method of Moments (GMM), Natural Resource Intensity, Natural Resource Curse,
Abstract :
This paper, by focusing on oil resources, tries to investigate the relationship between natural resources abundance and economic growth in 8 OPEC selected countries during 1970- 2008. We used Dynamic Panel Data and Static Panel Data Model for this purpose and estimated the relations by Generalized Method of Moments[1], Fixed Effects and Random Effects Estimator. The results represented that there is a negative relationship between oil resources abundance and economic growth in above mentioned countries. [1]. GMM * Associate Professor in Economics at University of Tarbiat Modares, Tehran, Iran (Corresponding Author), Email: kyavari@gmail.com **PhD student in Economics at University of Tarbiat Modares, Tehran, Iran, Email: mahdieh_rezagholizadeh@yahoo.com ***PhD Student in Economics at University of Tarbiat Modares and Researcher at Statistical Research and Training Centre, Tehran, Iran, Email: majid_aghaei3@yahoo.com
منابع
- درگاهی، حسن (1387). رونق نفتی و چالشهای توسعه اقتصادی (با تاکید بر ساختار تجارت و کاهش رقابت پذیری اقتصاد ایران). فصلنامه تحقیقات اقتصادی، دوره 43، شماره 5(84) : 92-71
- سامتی، مرتضی و همکاران (1386). اثر منابع طبیعی بر اقتصاد کشورهای اوپک و چند کشور منتخب. جستارهای اقتصادی، سال چهارم، شماره هفتم: 74-55
- گسکری، ریحانه و همکاران (1384). بی ثباتی صادرات نفت و رشد اقتصادی در ایران. فصلنامه پژوهش‌های اقتصادی ایران، سال هفتم، شماره 94:24-77.
- یاوری، کاظم و سلمانی، بهزاد (1384). رشد اقتصادی در کشورهای دارای منابع طبیعی: مورد کشورهای صادرکننده نفت. فصلنامه پژوهشنامه بازرگانی، سال دهم، شماره 37: 24-1
- Arellano, M., & Bond, S. (1991). Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations. Review of Economic Studies, 58:277-297.
- Auty, R. M. (2001). Resource and economic development. Oxford University Press, Oxford and New York.
- Barro, R.J. (1990). Government spending in a simple model of endogenous growth. Journal of Political Economy, 98:.S103-25.
- Barro, R.J.,& X. Sala-i-Martin. (1992). Public finance in models of economic growth. Review of Economic Studies, 54:646-61.
- Behabib, J., & M. Spiegel. (1994). The role of human capital in economic development: Evidence from aggregate country cross-data. Journal Monetary Economics, 34:143-173.
- Chi Yung. E. (2006). Is natural resource abundance benefical or detrimental to output level and growth?
- Dritsakis, N. (2004). Tourism as a long-run economic growth factor: an empirical investigation for Greece. Tourism Economics, 10 (3), (September 2004):305-316.
- Eugenio-Martin, N. Morales, R. Scarpa. (2004). Tourism and economic growth in Latin American countries: A panel data approach. Milan, Italy, Fondazione Eni Enrico Mattei Nota di Lavoro(26).
- Grossman, Gene M., & Elhanan Helpman. (1991). Innovation and growth in the global economy. MIT Press, Cambridge, MA.
- Gylfason. T, Tryggvi T. H, & Gylfi Z. (1999). A Mixed blessing: natural resources and economic growth. Macroeconomic Dynamics 3: 204-225.
- Gylfason. T. (2001). Natural resources and economic growth: what is the connection?. CESifo Working Paper (530).
- Hirischman.A.O. (1958). The strategy of economic development. new york: yale university press.
- Karl. T. l. (1997). The paradox of plenty: oil booms, Venezuela and other petro- states. Berkeley: University of California Press.
- Kuznets, S. (1966). Modern economic growth. New Haven, CT: Yale University Press.
- Lucas, R.E. Jr. (1988). On the mechanics of economic growth. Journal of Monetary Economics, (22):3-42.
- Manzano. O. & Rigobon. R. (2001). Resource curse or debt overhang?. NBER Working Paper 8390.
- Myrdal, G. (1968). Asian Drama: An inquiry into the poverty of nations. New York, Pantheon Books
- OPEC in the world economy , opec Annual report. Organization of the petroleum exporting countries public
- Ortega, Bravo. C., & Gregorio. De. J. (2005). The relative richness of the poor? Natural resources, human capital, and economic growth. The World Bank, Policy Research Working Paper Series 3484.
- Owen Edgar. (1987). The Future of Freedom in the Developing World. Pergamon Press.
- Papyrakis. Elissaios.,& Reyer. Gerlagh. (2007). Natural Resources: A Blessing or a Curse? FEEM Working Paper (8).
- Ranis, G. (2004). Human Development and Economic Growth. Economic Growth Center, Yale University, Center Discussion Paper, NO. 887.
- Rodriguez, F., & Sachs, J. (1999). Why do resource abundant economies grow more slowly? Journal of Economic Growth, (4).
- Sachs, J., & Warner, A, M. (1997). Natural resource abundance and economic growth. nber working paper, center for international development and harvard institute for international development.
- Sachs. J. D.,& Warner. A. M. (1999). Natural resource intensity and economic growth. Development Policies in Natural Resource Economies.
- Sen, A.N. (1999). Development as Freedom. New York: Alfred A. Knopf.
- Solow, R. (1956). A contribution to the theory of economic growth. Quarterly Journal of Economics, 70:65-94.
- Stevense. P (2003), Resource impact: a curse or a blessing?, working paper, center for energy, petroleum and mineral law and policy, university of Dundee.
- Todaro, M (2005), Economic Development, 9th Edition, Addison-Wesley Publishers.
World bank (2008), The CD of World Development Indicators (WDI)
