Investigation on the Validity of Natural Resource Curse Hypothesis in Gulf Cooperation Council Countries
Keyword(s):
Real Gdp
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This study aims to investigate the validity of natural resource curse hypothesis in Gulf Cooperation Council (GCC) countries for the period from 1980 to 2014. In doing so, the relationship between real GDP, natural resource abundance, financial development and gross fixed capital is examined using with second generation panel data methodology which allows to cross-sectional dependence among countries. In case of mean group estimation, it is concluded that natural resource rents, financial development and capital positively affects the real GDP in GCC countries. However, in case of individual country estimations, we found that natural resource curse hypothesis is valid only in United Arab Emirates.
2020 ◽
Vol 10
(2)
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pp. 285-293
2020 ◽
Vol 48
(10)
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pp. 030006052096191
2021 ◽
Vol 7
(2)
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pp. 131-145