Resource windfalls, macroeconmic stability and growth : the role of political institutions

Verfasserangabe:  Rabah Arezki; Kirk Hamilton; Kazim Kazimov
Jahr: 
Beschreibung:  We use a new dataset on non-resource GDP to examine the performance of commodity-exporting countries in terms of macroeconomic stability and economic growth in a panel of up to 129 countries during the period 1970-2007. Our main findings are threefold. First, we find that overall government spending in commodity-exporting countries has been procyclical. Second, we find that resource windfalls initially crowd out non-resource GDP which then increases as a result of the fiscal expansion. Third, we find that in the long run resource windfalls have negative effects on non-resource sector GDP growth. Yet, the effects turn out to be statistically insignificant when controlling for government spending. Both the effects of resource windfalls on macroeconomic stability and economic growth are moderated by the quality of political institutions. -- commodity ; fiscal policy ; macroeconomic stability ; economic growth
Person:  ; ;
Ort/Verlag:  München : CESifo
Umfang:  Online-Ressource (PDF-Datei: 25 S., 411 KB); graph. Darst., Kt.
Schriftenreihe:  CESifo working paper / Fiscal Policy, Macroeconomics and Growth ; 3678CESifo working paper / Fiscal Policy, Macroeconomics and Growth ; 3678
Sprache:  Englisch
Thema:  Rohstoffwirtschaft; Resource sector; Export; Windfall Profit; Windfall profit; Dutch Disease; Dutch disease; Finanzpolitik; Fiscal Policy; Makroökonomischer Einfluss; Macroeconomic effect; Wirtschaftswachstum; Economic Growth; Welt; World; 1970-2007
Klassifikation:  jel-O13; jel-H30; jel-C33
Dokumentart (Subkategorien):  Arbeitspapier; Working Paper; Graue Literatur; Non-commercial literature
Publikationsform:  Buch / Working Paper
Anmerkungen:  Systemvoraussetzungen: Acrobat Reader
Nachweis aus Datenbank:  ECONIS - Online-Katalog der ZBW
Verfügbarkeit: 
PDF-Volltext
PDF-Volltext
PDF-Volltext
mehr Optionen

 
 
Ergenbis drucken 
Exportieren