Natural resources: Funds and economic performance of resource-rich countries

Ouoba, Youmanli

doi:10.1016/j.resourpol.2016.09.003

Cited by 43 publications

(24 citation statements)

References 33 publications

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“…Resource revenues in some developing countries and high income countries have been mishandled on various occasions due to waste, corruption, macroeconomic instability, civil conflict, and distortion of political processes (Duncan ). Some examples in the Pacific are: the mismanagement of the PNG Mineral Revenue Stabilisation Fund; the probable disaster given government overriding of constraints above estimated sustainable levels of the Timor‐Leste's Petroleum Fund on the verge of ceasing oil extraction; and the Nauru Phosphate Royalties Trust that was built from phosphate mining like Kiribati's RERF, but was unsuccessful later due to mismanagement and corruption (Duncan ; Ouoba ; Doraisami ; Gale ).…”

Section: Sovereign Wealth Fundsmentioning

confidence: 99%

Rethinking the role of sovereign wealth funds in small island developing states: evidence from Tuvalu and Kiribati

Taupo

2019

Asian-Pac Economic Lit

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This paper examines the important role that can be played by sovereign wealth funds in financing of disaster risk management. The governments of Tuvalu and Kiribati are predicting climate change and natural disaster risks imposing increasing financial pressure on their economies. Having the required financial response in the aftermath of disasters is important to these low‐lying atolls. The long‐term sustainability of sovereign wealth funds in Kiribati and Tuvalu in contributing to ex post disaster risk management is examined.

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Section: Sovereign Wealth Fundsmentioning

confidence: 99%

Rethinking the role of sovereign wealth funds in small island developing states: evidence from Tuvalu and Kiribati

Taupo

2019

Asian-Pac Economic Lit

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“…A glut of empirical literature investigated the association of natural resource with macroeconomic indicators, like natural resource and economic growth (Fum and Hodler, 2010;Alexeev and Chernyavskiy, 2015;Erum and Hussain, 2019;Atil et al,2020); inflation (Ouoba, 2016;Kim and Lin, 2017;Henri, 2019;Freeman et al, 2020) unemployment ( Sjöberg et al, 2010;Kayode et al, 2014;Bagchi and Paul, 2018;Mukoka, 2020) trade balance (Vallejo, 2010;Gill et al, 2014;Harding and Venables, 2016;Tran et al, 2020); poverty (Barbier, 2010;Timilsina and Zilberman, 2016;Marchand and Weber, 2018); environment (Simon, 2010;Panayotou, 2016;Ding and Peng, 2018;Badeeb et al, 2020).…”

Section: Literature Reviewmentioning

confidence: 99%

Natural Resources, Institutional Quality and Financial Development in GCC Member Countries: Visiting ‘Resource Curse Hypothesis’ by DCCE Estimation

Faheem

Chaudhry

Hussain

2021

Preprint

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The main purpose of the study is to check whether natural resource rent affects the financial development or supporting resource curse hypothesis by employing a recently developed estimation technique by Chudik and Pesaran (2015) over 1985 to 2017 in GCC member countries. The novelty of this methodology is to consider structural breaks and the heterogeneity issues that are common in panel data. The results of DCCE estimates are in support of resource hypothesis that natural resource rent hurt financial development. Additionally, this study takes moderation of institutional quality to check the threshold point or turning point where natural resource rent effect becomes positive. Our results of interaction term postulate that a higher level of institutional quality mitigates the adverse effect of natural resource rent on financial development. The study results recommend the policy of natural resource rent in the presence of high institutional quality should continue because it improves the financial development in GCC member countries.

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“…A glut of empirical literature investigated the association of natural resource with macroeconomic indicators, like natural resource and economic growth (Fum and Hodler, 2010;Alexeev and Chernyavskiy, 2015;Erum and Hussain, 2019;Atil et al,2020); inflation (Ouoba, 2016;Kim and Lin, 2017;Henri, 2019;Freeman et al, 2020;Chaudhry et al, 2021) unemployment ( Sjöberg et al, 2010;Kayode et al, 2014;Bagchi and Paul, 2018;Mukoka, 2020) trade balance (Vallejo, 2010;Gill et al, 2014;Harding and Venables, 2016;Tran et al, 2020); poverty (Barbier, 2010;Timilsina and Zilberman, 2016;Marchand and Weber, 2018); environment (Simon, 2010;Panayotou, 2016;Ding and Peng, 2018;Badeeb et al, 2020).…”

Section: Literature Reviewmentioning

confidence: 99%

Natural Resources, Institutional Quality and Financial Development in GCC Member Countries: Visiting ‘Resource Curse Hypothesis’ by DCCE Estimation

Faheem

Chaudhry

Hussain

2021

READS

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The main purpose of the study is to check whether natural resource rent affects the financial development or supporting the resource curse hypothesis by employing a recently developed estimation technique by Chudik and Pesaran (2015) from 1985 to 2017 in GCC member countries. The novelty of this methodology is to consider structural breaks and the heterogeneity issues that are common in panel data. The results of DCCE estimates are in support of the resource hypothesis that natural resource rent hurt financial development. Additionally, this study takes moderation of institutional quality to check the threshold point or turning point where the natural resource rent effect becomes positive. Our results of interaction term postulate that a higher level of institutional quality mitigates the adverse effect of natural resource rent on financial development. The study results recommend the policy of natural resource rent in the presence of high institutional quality should continue because it improves the financial development in GCC member countries.

show abstract

Natural resources: Funds and economic performance of resource-rich countries

Cited by 43 publications

References 33 publications

Rethinking the role of sovereign wealth funds in small island developing states: evidence from Tuvalu and Kiribati

Rethinking the role of sovereign wealth funds in small island developing states: evidence from Tuvalu and Kiribati

Natural Resources, Institutional Quality and Financial Development in GCC Member Countries: Visiting ‘Resource Curse Hypothesis’ by DCCE Estimation

Natural Resources, Institutional Quality and Financial Development in GCC Member Countries: Visiting ‘Resource Curse Hypothesis’ by DCCE Estimation

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