Economic Freedom and Productivity Growth in Resource-rich Economies

Farhadi, Minoo; Islam, Md. Rabiul; Moslehi, Solmaz

doi:10.1016/j.worlddev.2015.02.014

Cited by 157 publications

(79 citation statements)

References 57 publications

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“…Recently, (Farhadi et al 2015) found that natural resource rents have a negative and significant effect on productivity. However, the authors argued that the more market-oriented resource-rich economies may experience significantly higher productivity growth than less market-oriented ones.…”

Section: Literature Reviewmentioning

confidence: 99%

“…TFP is derived from a standard neoclassical Cobb-Douglas production function (Farhadi et al 2015;Badeeb et al 2016):…”

Section: Data and Variablesmentioning

confidence: 99%

“…While most of the research on the resource curse has focused on economic growth, an increasing number of papers have studied the effect of resource dependence on productivity (Papyrakis and Gerlagh 2004;Gylfason and Zoega 2006;Farhadi et al 2015). Since productivity is a major determinant of economic growth, lower productivity would also mean lower economic growth.…”

Section: Introductionmentioning

confidence: 99%

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Natural Resources and Productivity: Can Banking Development Mitigate the Curse?

Badeeb

2017

Economies

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This paper contributes to the literature concerning the natural resource curse by exploring the role of banking development in reducing the resource curse in a natural resource-based country, Yemen. Using time series data over the period 1980-2012, we find that natural resource dependence is negatively related to productivity, and this relationship depends on the level of banking development. Increasing this level reduces the negative consequences of the natural resource curse. Therefore, policymakers should proactively encourage credit to enable the banking sector to play a more efficient intermediary role in mobilizing domestic savings and channeling them to productive investments. This will help to accumulate permanent productive wealth to enhance any diversification effort and compensate for the decline in natural resource production.

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Section: Literature Reviewmentioning

confidence: 99%

“…TFP is derived from a standard neoclassical Cobb-Douglas production function (Farhadi et al 2015;Badeeb et al 2016):…”

Section: Data and Variablesmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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Natural Resources and Productivity: Can Banking Development Mitigate the Curse?

Badeeb

2017

Economies

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“…Freedom, first of all empowers individuals giving them more options and choices. When people have more choices they are more likely to be engaged in entrepreneurial activities, what in turn reflects in creating new jobs and innovative products, growing investment opportunities and refining services [7].…”

Section: Economic Freedom and Rising Living Standardsmentioning

confidence: 99%

Main Aspects of Economic Freedom and Its Impact on Rising Living Standards

Chkareuli¹

2017

IJTEF

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Abstract-O ne of the basic human needs that plays a central role in social progress is freedom. Human development mostly means to expand choices. When we are forced to do things or not to do, we do not have that many choices. We are not allowed to make our own decisions.Nowadays, economic freedom has become a broad term of discussions between economists (and not only).Economic freedom is the most essential route to greater opportunities and good standards of living for all in any society. We cannot overemphasize the importance of economic freedom. It influences almost all aspects of a human's life and the environment where he/she lives.People define economic freedom in many different ways, but still, what is economic freedom and why do we need to be economically free? In this paper we will discuss main aspects of economic freedom and its impact on rising living standards.

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“…This interconnectedness is one of the main factors responsible for the volume of economic activities, which in turn fuels further interconnectedness (Janita and Miranda, 2013;Farhadi, Islam, and Moslehi, 2015). The advent of the internet led to the amplification of interconnectedness among people beyond geographical boundaries.…”

Section: Introductionmentioning

confidence: 99%