Naslov
An Introduction to Empiric Approach to the Resource Curse Phenomenon in Small Island Developing States (SIDS)

Autori
Kurečić, Petar ; Milković, Marin ; Kokotović, Filip

Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni

Izvornik
19th International Scientific Conference on Economic and Social Development Proceedings / Kozina, Goran ; Juznik Rotar, Laura ; Tomic, Daniel - Melbourne : VADEA ; Victoria University, Melbourne Australia ; Faculty of Management University of Warsaw ; Sveučilište Sjever, 2017, 362-370

Skup
19th International Scientific Conference on Economic and Social Development

Mjesto i datum
Melbourne, Australija, 09.02.2017. - 10.02.2017

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
resource curse, GDP growth, SIDS, political instability, natural capital

Sažetak
The dependence on natural resources exports and its effects on economic growth represent one of the fields of study in political economy. This paper represents an empiric analysis of sets of macroeconomic data for several Small Island Developing States (SIDS). Data was analysed for Bahrain, Barbados, and the Dominican Republic. This paper searches for the potential mechanism of transmission of the resource curse. The countries, which were selected, are dependent upon either tourism as a source of revenue, natural resources or are to a degree dependent upon both. In order to avoid potential problems from using cross- section data, individual time series analysis methods were used. By using a Vector Autoregressive framework, this paper concludes that there is evidence of both direct transmission from natural capital towards economic growth, as well as indirect transmission through political instability and increased level of corruption. These findings are overall conclusive with the previous works discussing the research curse hypothesis. The key policy recommendation is ensuring that funds obtained from the exploiting of resources or tourism are used to develop a more stable and long-term sustainable economy.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija, Politologija

POVEZANOST RADA