|
The Effect of Energy Resource Abundance and Economic Growth in Oil-Exporting Countries (PSTR Approach)
|
Samad Hekmati farid *   1, Khalil Jahangiri2 , Fahmide Fattahi2 |
1- urmia university , s.hekmati@urmia.ac.ir
2- urmia university |
|
|
Abstract: (4474 Views) |
This paper investigates threshold effects of energy resource abundance and economic growth in 27 oil-exporting countries for the period 2002-2013, by using a panel Smooth threshold regression methodology. To evaluate the effects of energy resource abundance on economic growth, Fuel share of commodity exports (energy resource abundance index) has chosen as a transition variable.
The results show that there is a nonlinear relationship between the variables in model. Threshold value for transition variable is 4.0565 and the value for slope parameter is 140.2662.
The results indicate that energy resource abundance has positive effects on economic growth in first regime and this effect has increasing in second regime. Also, Results imply that countries by high energy resource abundance have high oil revenues. In the other hand oil sector in these countries have the high share in economic, so increasing of oil prices caused a boom in this sector and increasing domestic investment, which also caused an increase in the total production and economic growth.
JEL Classification: C32, O47, Q34
|
|
| Keywords: Economic Growth, Abundant Natural Resources, Panel Data, Smooth Transition.
|
|
|
Full-Text [PDF 417 kb]
(2004 Downloads)
|
Type of Study: paper |
Subject:
Gdp
Received: 2016/12/2 | Accepted: 2017/07/3 | Published: 2017/12/27 | ePublished: 2017/12/27
|
|
|
|
|
|
|
| Send email to the article author |
|
|
|
| Add your comments about this article |
|
|
|
