Three essays in natural resource-led development and economic growth
Abstract
[ACCESS RESTRICTED TO THE UNIVERSITY OF MISSOURI AT AUTHOR'S REQUEST.] This dissertation is comprised of three independent studies in empirical growth and natural resource-led development. Chapter 2 presents a cross-country growth study of 68 developing countries that includes 14 MENA and 6 GCC countries between 1994-2014 and finds evidence of a negative association between per capita growth and natural resource dependence. In chapter 3, using a panel dataset of 58 developing countries between 1996-2014, I present a time fixed-effects model to investigate the role of governance in the natural resource curse. The study finds robust evidence of adverse effects on growth from governance measures such as political stability and the rule of law while a favorable effect on growth from voice and accountability. Implications for policy in developing countries point to democratization being key to mitigating the adverse effects on growth from resource dependence. Finally, in chapter 4, the study uses the same panel dataset of 58 developing countries between 1996-2014 and estimates a dynamic growth model using two-stage least squares (2SLS) and limited information maximum likelihood (LIML) estimators. The study finds evidence of an adverse effect on per capita growth from natural resource dependence in the financial sector. This resource drag on growth highlights an indirect link from natural resource dependence to growth and the need for policy makers in resource-rich developing countries to mitigate it.
Degree
Ph. D.
Thesis Department
Rights
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