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Author Klein, Nir, author

Title The linkage between the oil and the non-oil sectors : a panel VAR approach / prepared by Nir Klein
Published [Washington, D.C.] : International Monetary Fund, [2010]
©2009
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Description 1 online resource (25 pages) : illustrations
Series IMF working paper ; WP/10/118
IMF working paper ; WP/10/118
Contents Cover Page; Title Page; Copyright Page; Contents; Introduction; 1. Crude Oil Price Index and the Non-oil Sector Growth in Selected Oil Exporters); I. Some Stylized Facts; 2. Selected Oil Exporters-Oil Intensity and Growth Correlation, 1985-2008; 3a. Selected Oil Exporters: Oil and Non-oil Sectors Average Growth, Low Oil Intensity, 1985-2008; 3b. Selected Oil Exporters: Oil and Non-Oil Sectors Average Growth, High Oil Intensity, 1985-2008; 4a. Selected Oil Exporters: REER and Oil Sector Growth, High Oil Intensity, 1985-2008
13. Angola: The Oil and Non-Oil Sector Growth, 1992-20082. VAR Estimation Results, 1994-2008; 14. Angola: Impulse Response for One-lag VAR of oy, noy and rer; V. Conclusions; A.1. Selected Oil Exporters: Summary Statistics, Full Sample, 1995-2008; A2. Selected Oil Exporters: Correlation Matrix; A3. Selected Oil Exporters: Correlation Matrix; A4. Estimation Results of the Panel VAR, Low Oil-intensity Countries, 1985-2008; A5. Estimation Results of the Panel VAR, High Oil-intensity Countries, 1985-2008; A6. Variance Decomposition
4b. Selected Oil Exporters: REER and Non-Oil Sector Growth, High Oil Intensity, 1985-20085a. Selected Oil Exporters: Government Effectiveness and Oil Intensity, High PPP Per Capita; 5b. Selected Oil Exporters: Government Effectiveness and Oil Intensity, Low PPP Per Capita; 6. Selected Oil Exporters: Fiscal Sustainability Ratios and Oil Intensity; 7. Selected Oil Exporters: Budget Transparency and Oil Intensity; 8a. Selected Oil Exporters: Oil Intensity and the 2009 Doing Business Ranking, High PPP Per Capital
8b. Selected Oil Exporters: Oil Intensity and the 2009 Doing Business Ranking, Low PPP Per CapitaII. Data and Methodology; 1. Selected Oil Exporters-Oil Intensity Statistics, 1995-2008; III. Estimation Results; A. Low Oil-intensity Countries; 9. Low Oil-Intensity Countries: Impuse Response of oy, noy and rer; B. High Oil-intensity Countries; 10. High Oil-Intensity Countries: Impulse Response of oy, noy and rer; IV. The Case of Angola; 11. Angola: Oil Intensity, 1991-2008; 12. Angola: Oil Sector Growth and the Change in the REER, 1995-2008
A7. Selected Oil Exporters: Governance, Doing Business and Fiscal Transparency StatisticsReferences; Footnotes
Summary Recent empirical studies have shown an inverse relation between natural resource intensity and long-term growth, implying that the natural resources generally impede economic growth through various channels (the "natural resource curse"). This paper departs from these studies by exploring the intersectoral linkages between oil and non-oil sectors in a cross-country perspective. The paper shows that the applicability of ́"natural resource curse" across oil-based economies should be treated with caution as the externalities of the oil sector highly depend on the countries' degree of oil-intensity. In particular, the results show that, in low oil-intensity economies, the incentives to strengthen both fiscal and private sector institutions lead to positive inter-sectoral externalities. In contrast, weaker incentives in high oil-intensity economies adversely affect fiscal and private sector institutions and consequently lead to negative inter-sectoral externalities
Bibliography Includes bibliographical references (page 22)
Subject Natural resources -- Econometric models.
Petroleum industry and trade -- Econometric models.
Form Electronic book
Author International Monetary Fund. African Department, issuing body
ISBN 1283557983
1455202118
1455248428
9781283557986
9781455202119
9781455248421