An empirical study of the linkage between oil and gas resource abundance and economic growth in oil-producing countries
LIU Mingming, WANG Zhen, PAN Yanni
1 Academy of Chinese Energy Strategy, China University of Petroleum-Beijing, Beijing 102249, China 2 CNPC Policy Research Office, Beijing 100007, China
Oil and gas resources should be an important driver of a country’s economic development, however, rich resources endowment in many oil-producing countries do not promote the growth of their economies, and this is worth further study. Based on Sachs and Warner’s analytical framework, this paper makes a thorough investigation on the relationships between natural resource abundance and economic growth of important oil-producing countries using their 35 years’ economic development differences from 1980 to 2014. The results show that the relationship still holds negative even after controlling relevant growth variables such as openness, investment, terms of trade, human capital and regime, This confirms the hypothesis of “the Resource Curse” in oil-producing countries. This paper also studies the transmission channels of “Resource Curse”, and finds that insufficient human capital has the largest impact.
Key words：
oil-producing countries ; resource curse ; transmission channel ; regime ; human capital
劉明明,，王震，潘燕妮. 油氣資源稟賦與產(chǎn)油國(guó)經(jīng)濟(jì)增長(zhǎng)關(guān)系的實(shí)證研究[J]. 石油科學(xué)通報(bào), 2016, 1(2): 286-292. LIU Mingming, WANG Zhen, PAN Yanni. An empirical study of the linkage between oil and gas resource abundance and economic growth in oil-producing countries. 石油科學(xué)通報(bào), 2016, 1(2): 286-292.
