Natural resource abundance, financial development and economic growth: An investigation on Next-11 countries

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dc.authorid0000-0003-4168-2792
dc.authorwosidYILDIRIM, Durmuş Çağrı/V-8841-2019
dc.contributor.authorErdoğan, Seyfettin
dc.contributor.authorYıldırım, Durmuş Çağrı
dc.contributor.authorGedikli, Ayfer
dc.date.accessioned2022-05-11T14:04:46Z
dc.date.available2022-05-11T14:04:46Z
dc.date.issued2020
dc.departmentFakülteler, İktisadi ve İdari Bilimler Fakültesi, İktisat Bölümü
dc.description.abstractThe financial system needs to develop in order for natural resource exports to have a positive effect on economic growth. Yet, an advanced financial system is crucial for transferring the revenues from oil exports to productive investments. If the level of development of the financial system remains under a certain threshold, the effect of natural resource exports on economic growth is too low. In this vein, the determination of the level and the deepness of financial development that has a positive impact on the growth of natural resource exports should be clarified. The aim of this study is to investigate the relationship between the impact of natural resource exports on economic growth and the level of financial deepening by using the data of the selected Next-11 countries for the period of 1996-2016. Nonlinear panel data methodology is used in the study. Based on the empirical results, for the first regime, where the rate of financial deepening is under 45%, the increase in oil exports does not have a statistically significant effect on ecenomic growth. For the second regime, where financial deepening is over 45%, one unit increase in oil exports causes a 7% increase in economic growth.
dc.identifier.doi10.1016/j.resourpol.2019.101559
dc.identifier.issn0301-4207
dc.identifier.issn1873-7641
dc.identifier.urihttps://doi.org/10.1016/j.resourpol.2019.101559
dc.identifier.urihttps://hdl.handle.net/20.500.11776/4770
dc.identifier.volume65
dc.identifier.wosWOS:000527845100023
dc.identifier.wosqualityQ1
dc.indekslendigikaynakWeb of Science
dc.institutionauthorErdoğan, Seyfettin
dc.institutionauthorGedikli, Ayfer
dc.language.isoen
dc.publisherElsevier Sci Ltd
dc.relation.ispartofResources Policy
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/closedAccess
dc.subjectNatural resources
dc.subjectFinancial development
dc.subjectEconomic growth
dc.subjectN-11 countries
dc.subjectNonlinear panel data analysis
dc.subjectUnit-Root Tests
dc.subjectStructural-Change
dc.subjectDynamic Panels
dc.subjectOil Abundance
dc.subjectVietnam
dc.subjectMexico
dc.subjectCurse
dc.subjectNexus
dc.titleNatural resource abundance, financial development and economic growth: An investigation on Next-11 countries
dc.typeArticle

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