Resource Windfalls, Macroeconomic Stability and Growth: The Role of Political Institutions
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...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
International Monetary Fund
2011
|
| Schriftenreihe: | IMF Working Papers
Working Paper No. 11/142 |
| Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
| Zusammenfassung: | 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 |
| Beschreibung: | 1 Online-Ressource (25 p) |
| ISBN: | 1455266434 9781455266432 |
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| illustrated | Not Illustrated |
| index_date | 2024-07-03T20:13:21Z |
| indexdate | 2024-07-10T09:35:29Z |
| institution | BVB |
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| record_format | marc |
| series2 | IMF Working Papers |
| spelling | Kazimov, Kazim Verfasser aut Resource Windfalls, Macroeconomic Stability and Growth The Role of Political Institutions Kazimov, Kazim Washington, D.C International Monetary Fund 2011 1 Online-Ressource (25 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 11/142 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 Online-Ausg Arezki, Rabah Sonstige oth Hamilton, Kirk Sonstige oth http://elibrary.imf.org/view/IMF001/11947-9781455266432/11947-9781455266432/11947-9781455266432.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Kazimov, Kazim Resource Windfalls, Macroeconomic Stability and Growth The Role of Political Institutions |
| title | Resource Windfalls, Macroeconomic Stability and Growth The Role of Political Institutions |
| title_auth | Resource Windfalls, Macroeconomic Stability and Growth The Role of Political Institutions |
| title_exact_search | Resource Windfalls, Macroeconomic Stability and Growth The Role of Political Institutions |
| title_exact_search_txtP | Resource Windfalls, Macroeconomic Stability and Growth The Role of Political Institutions |
| title_full | Resource Windfalls, Macroeconomic Stability and Growth The Role of Political Institutions Kazimov, Kazim |
| title_fullStr | Resource Windfalls, Macroeconomic Stability and Growth The Role of Political Institutions Kazimov, Kazim |
| title_full_unstemmed | Resource Windfalls, Macroeconomic Stability and Growth The Role of Political Institutions Kazimov, Kazim |
| title_short | Resource Windfalls, Macroeconomic Stability and Growth |
| title_sort | resource windfalls macroeconomic stability and growth the role of political institutions |
| title_sub | The Role of Political Institutions |
| url | http://elibrary.imf.org/view/IMF001/11947-9781455266432/11947-9781455266432/11947-9781455266432.xml |
| work_keys_str_mv | AT kazimovkazim resourcewindfallsmacroeconomicstabilityandgrowththeroleofpoliticalinstitutions AT arezkirabah resourcewindfallsmacroeconomicstabilityandgrowththeroleofpoliticalinstitutions AT hamiltonkirk resourcewindfallsmacroeconomicstabilityandgrowththeroleofpoliticalinstitutions |