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Essays on Natural Resource Richness, Economic Growth and Institutional Quality
Zeynalov, Ayaz ; Horváth, Roman (advisor) ; Janda, Karel (referee) ; Frensch, Richard (referee) ; Hartwell, Christopher (referee)
Charles University in Prague Faculty of Social Sciences Institute of Economic Studies DISSERTATION THESIS ABSTRACT Essays on Natural Resource Richness, Economic Growth and Institutional Quality Author: Ayaz Zeynalov Supervisor: Doc. Roman Horvath, Ph.D Academic Year: 2016/2017 Abstract This dissertation consists of three empirical papers on natural resource, economic growth and institutional quality. The first paper analyzes possible publication bias and the reason for contradictory findings in the natural resource literature, the second paper examines the effect of natural resource exports on manufacturing performance in the 15 former Soviet Union countries, and the last addresses whether similarities in country income size and at the institutional level encourage increased amounts of bilateral trade between countries. An introductory chapter puts these three papers into perspective. In the first paper, I analyze 43 studies providing 605 different regression specifica- tions and found that approximately 40% report a negative and statistically significant effect, another 40% report no effect, and the remaining 20% report a positive and statistically significant effect of natural resources on economic growth. The findings show that including interaction between natural resources and institutional quality, controlling...
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Natural Resources and Economic Growth: A Meta-Analysis
Havránek, Tomáš ; Horváth, Roman ; Zeynalov, Ayaz
An important question in development studies is how natural resource richness affects long-term economic growth. No consensus answer, however, has yet emerged, with approximately 40% of empirical papers finding a negative effect, 40% finding no effect, and 20% finding a positive effect. Does the literature taken together imply the existence of the so-called natural resource curse? In a quantitative survey of 402 estimates reported in 33 studies, we find that the effect of natural resources on growth is very small when potential publication bias and method heterogeneity are taken into account. Our results also suggest that three aspects of study design are especially effective in explaining the differences in results across studies: 1) including an interaction between natural resources and institutional quality, 2) controlling for the level of investment activity, and 3) distinguishing between different types of natural resources.
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