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THE DIFFERENT IMPACTS OF DIFFERENT TYPES OF NATURAL RESOURCES ON POLITICAL INSTITUTIONS IN DEVELOPING COUNTRIES

MICHAËL GOUJON|ARISTIDE MABALI
경제연구소 (Hanyang Economic Research Institute)|2016.09|Journal of Economic Development|제41권 제3호|pp. 1-20|DOI 10.35866/caujed.2016.41.3.001

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참고문헌

키워드

Natural ResourcesPanel Data ModelsPolitical InstitutionsRents
주제분류경제학

초록

Rents generated by natural resources are usually thought to weaken the quality of institutions, particularly in developing countries. Our hypothesis is that this effect may differ depending on the types of natural resources characterized by their different degree of appropriability. We test this hypothesis using panel data covering 90 developing countries for the period 1970-2010. We find that total rents weaken the quality of institutions. However, while oil rents have a significant negative effect, forest and mineral rents do not, after controlling for the other relevant determinants of institutional quality, institutional persistence, neighbor effect, and endogeneity of rents.

Abstract

Rents generated by natural resources are usually thought to weaken the quality of institutions, particularly in developing countries. Our hypothesis is that this effect may differ depending on the types of natural resources characterized by their different degree of appropriability. We test this hypothesis using panel data covering 90 developing countries for the period 1970-2010. We find that total rents weaken the quality of institutions. However, while oil rents have a significant negative effect, forest and mineral rents do not, after controlling for the other relevant determinants of institutional quality, institutional persistence, neighbor effect, and endogeneity of rents.

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