While there is much evidence to support the resource curse hypothesis for resource-abundant countries, some studies have found that oil booms raise the economic growth of oil-exporting countries. This paper examines the issue of the existence of the threshold effects in the relationship between...

This paper examines the nonlinear or asymmetric relationship between oil revenues and output growth in oil-exporting countries, applying a dynamic panel framework and two different measures of oil shocks. The main results in this paper confirm the stylized facts that in heavily oil-dependent...