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From natural resource boom to sustainable economic growth: Lessons from Mongolia

Bin Grace Li, Pranav Gupta and Jiangyan Yu

International Economics, 2017, issue 151, 7-25

Abstract: We attempted to investigate empirically whether or not the Dutch disease (de-industrialization) exists in Russia. This study led to the following main findings: (i) manufacturing output in Russia is positively associated with the price of oil, though the response following an oil-price shock is marginal in the short run; (ii) manufacturing output rises slightly even in case of the appreciation of real effective exchange rate; (iii) FDI inflows contribute to the growth of manufacturing output, but not significant; (iv) an increase in government expenditures crowds out the manufacturing sector; and (v) the government has a tight fiscal policy in response to a rise in manufacturing output.

Keywords: Natural resources management; Debt sustainability; Public investment (search for similar items in EconPapers)
JEL-codes: F34 Q32 (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (12)

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Journal Article: From natural resource boom to sustainable economic growth: Lessons from Mongolia (2017) Downloads
Working Paper: From Natural Resource Boom to Sustainable Economic Growth: Lessons for Mongolia (2015) Downloads
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