Comparison of resource related economic sectors with non-resource sectors from the point of view of GDP growth and Dutch Disease potential, studied on the case of four resource dependent countries
Submitted by: | Haiyan Sulaiman, Ing. SAMUEL Mintah , Ali Salman |
Journal of Applied Economic Sciences |
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Date |
September - 2016 |
Abstract :
The Dutch Disease phenomenon makes scholars conclude on the base of the historical empiric evidence, that natural resources can be actually a thread to the long term stability and prosperity of countries. This view of natural resources as a curse rather than a blessing was shown on many cases of national economies. No studies had however compared different commodities in order to draw a conclusion on the severity of their impact on GDP growth with other sectors and also on the lagged impact in a mid-term time span. The study compares on the base of historic longitudinal panel data analysis, selected types of resources with a Dutch Disease impact potential on GDP creation, such as crude oil and gold and compares these with agricultural and industrial output and high-tech exports in chosen countries.