The Role of Institutions in Oil Resource Curse or Blessing: A Rent-Seeking Model with DSGE Approach (in Persian)

Ali Tayebnia, Hmid Zamanzadeh and Mahdeih Shadrokh
Additional contact information
Ali Tayebnia: Iran
Hmid Zamanzadeh: Iran
Mahdeih Shadrokh: Iran

Journal of Monetary and Banking Research (فصلنامه پژوهش‌های پولی-بانکی), 2014, vol. 7, issue 21, 443-475

Abstract: The oil revenues have positive and negative effects on economic performance through different channels that can cause curse or blessing. The Dynamic Stochastic General Equilibrium (DSGE) model is amongst the best tools for understanding how different economic shocks affect macroeconomic variables. This study uses a DSGE model to analyze how oil shocks affect the Iranian economy in the short and long run. The model emphasizes the role of rent-seeking behavior and institutional factors in the transmission of oil shocks. The results show that a positive oil shock increases non-oil output in the short run due to expansion of demand and increased supply of goods, but leads to a decrease in non-oil output in the long run due to rent-seeking behavior and institutional weaknesses.

JEL-codes: C63 E02 E63 Q30 (search for similar items in EconPapers)
Date: 2014
References: Add references at CitEc
Citations:

Downloads: (external link)
http://jmbr.mbri.ac.ir/article-1-319-en.pdf (application/pdf)
http://jmbr.mbri.ac.ir/article-1-319-en.html (text/html)
http://jmbr.mbri.ac.ir/article-1-319-fa.html (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:mbr:jmbres:v:7:y:2014:i:21:p:443-475

Access Statistics for this article

More articles in Journal of Monetary and Banking Research (فصلنامه پژوهش‌های پولی-بانکی) from Monetary and Banking Research Institute, Central Bank of the Islamic Republic of Iran Contact information at EDIRC.
Bibliographic data for series maintained by M. E. ().