چکیده:
his paper investigates the impact of institutional quality on relation between resource abundance and economic growth in major oilexporting countries by using panel data during period of 1996-2007.The research found that in the countries under study, institutional quality has a positive impact on economic growth, but resourceabundance affected economic growth inversely. Meanwhile, naturalresource abundance caused economic growth to be decreased.
خلاصه ماشینی:
The objective of this research is to study the impact of natural resource abundance on economic growth along with institutional quality in major oil exporting countries.
Resource abundance may nevertheless put the institutional arrangements to a test (Mehlum, Moene and Torvik 2005) 3- Empirical Studies This section is structured as follows: First, we review the natural resource curse studies maintain that rather than fueling growth and development, natural resources wealth can become the cause of economic stagnation.
4- Methodology To examine the relationship between natural resource abundance, economic growth and institutional quality, this paper follows the empirical growth: • Cross-section growth studies such as Mankiw, Romer and Weil (1992) • Barro and Sala-i-Martin (1995) and Barro (1997) • Economic growth empirical studies in resource rich countries for example Sachs and Warner (1995a, 1997, 1999 and 2001) and Iimi (2007) We use the following linear growth regression model: git = α0 + α1 FUEL it + α2 θit + α3 FUEL it*θit + α4 nit+ α5 TRAit + α6 Xit' +ε (1) Where git= real per capita growth rate, Fuel= Fuel exports (% of merchandise exports) as a proxy for natural resource abundance, θ= one of the institutional quality indicators, which extracted from the World Bank dataset covering different dimensions of governance from 1996 onwards (Kaufmann& Kraay and Mastruzzi 2008).
The empirical results indicate that in oil exporting countries institutional quality has a positive effect but resource abundant has a negative effect on economic growth.