The Dynamics of Private Sector Development in Natural Resource Dependent Countries

Goran M. Muhamad, Almas Heshmati () and Nabaz Khayyat ()

Global Economic Review, 2020, vol. 49, issue 4, 396-421

Abstract: This paper discusses the role of private sector development in overcoming the challenges of the resource curse. It identifies the developmental factors in the private sector in natural resource dependent countries by adapting a dynamic flexible adjustment model. Its empirical results are based on panel data from 110 natural resource producers in developed, developing, and emerging countries during the period 1990–2017. The findings show that natural resource rents can foster private sector development, and the speed of adjustment towards the target level of development is faster in oil and gas exporting countries.

Date: 2020
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DOI: 10.1080/1226508X.2020.1821745

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