Oil and Growth in Transition Countries

Christa Brunnschweiler

No 29, OxCarre Working Papers from Oxford Centre for the Analysis of Resource Rich Economies, University of Oxford

Abstract: This paper examines the impact of oil on economic growth in transition economies of the former Soviet Union and Central and Eastern Europe. I use oil production and reserves data in a series of panel estimations to show that oil has had positive growth effects between 1990-2006, although they appear to be diminishing for very large producers. These positive effects are confirmed when I consider different oil ownership structures. Oil has however had a negative effect on human capital formation, and corruption and democracy levels. Additionally, I find that privatisation levels have had positive growth effects, while privatisation speed has had negative effects on growth.

Keywords: oil; resource curse; economic growth; transition countries; oil ownership (search for similar items in EconPapers)
JEL-codes: O13 O40 P28 Q32 (search for similar items in EconPapers)
Date: 2009-11-11
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Citations: View citations in EconPapers (12)

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Working Paper: Oil and Growth in Transition Countries (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:oxf:oxcrwp:029

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