Role of natural resource abundance, international trade and financial development in the economic development of selected countries
Economic development in a contemporary setting encompasses a broad range of parameters. This balanced panel study of 30 countries uses two single-equation models to investigate the impacts of natural resource abundance, international trade, financial development, trade openness and institutional qua...
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| Định dạng: | Journal Article |
| Ngôn ngữ: | English |
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Elsevier
2020
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| Truy cập trực tuyến: | http://digital.lib.ueh.edu.vn/handle/UEH/60081 https://doi.org/10.1016/j.resourpol.2020.101591 |
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oai:localhost:UEH-600812020-05-04T08:39:40Z Role of natural resource abundance, international trade and financial development in the economic development of selected countries Trumel Redmond Muhammad Ali Nasir Natural resource abundanceInternational trade Financial development Trade opennessInstitutional quality Economic development Economic growth Human development Economic development in a contemporary setting encompasses a broad range of parameters. This balanced panel study of 30 countries uses two single-equation models to investigate the impacts of natural resource abundance, international trade, financial development, trade openness and institutional quality on two proxies for economic development – economic growth and a human development index. The data spans from 1990 to 2016 and the impact is assessed in aggregate as well as the countries' level of development in three groups – Lower-middle, Upper-middle and High Income Countries. Four panel estimation approaches are used: Fixed Effects (FE), Random Effects (RE), Panel Fully Modified Least Squares (FMOLS) and Panel Dynamic Least Squares (DOLS). While natural resource abundance has a significantly positive impact on economic growth, a primarily negative and insignificant effect on human development exists. Interestingly, international trade and broad money have significantly negative impacts on economic development. Trade openness’ positive effect exceeds that of institutional quality. The findings suggest that the variables have a stronger influence on economic growth as compared to human development. 2020-05-04T08:38:39Z 2020-05-04T08:38:39Z 2020 Journal Article 0301-4207 http://digital.lib.ueh.edu.vn/handle/UEH/60081 https://doi.org/10.1016/j.resourpol.2020.101591 en Resources Policy Vol. 66 none Portable Document Format (PDF) 1 15 Elsevier |
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Đại học Kinh tế Thành phố Hồ Chí Minh |
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DSpaceUEH |
| language |
English |
| topic |
Natural resource abundanceInternational trade Financial development Trade opennessInstitutional quality Economic development Economic growth Human development |
| spellingShingle |
Natural resource abundanceInternational trade Financial development Trade opennessInstitutional quality Economic development Economic growth Human development Trumel Redmond Role of natural resource abundance, international trade and financial development in the economic development of selected countries |
| description |
Economic development in a contemporary setting encompasses a broad range of parameters. This balanced panel study of 30 countries uses two single-equation models to investigate the impacts of natural resource abundance, international trade, financial development, trade openness and institutional quality on two proxies for economic development – economic growth and a human development index. The data spans from 1990 to 2016 and the impact is assessed in aggregate as well as the countries' level of development in three groups – Lower-middle, Upper-middle and High Income Countries. Four panel estimation approaches are used: Fixed Effects (FE), Random Effects (RE), Panel Fully Modified Least Squares (FMOLS) and Panel Dynamic Least Squares (DOLS). While natural resource abundance has a significantly positive impact on economic growth, a primarily negative and insignificant effect on human development exists. Interestingly, international trade and broad money have significantly negative impacts on economic development. Trade openness’ positive effect exceeds that of institutional quality. The findings suggest that the variables have a stronger influence on economic growth as compared to human development. |
| author2 |
Muhammad Ali Nasir |
| author_facet |
Muhammad Ali Nasir Trumel Redmond |
| format |
Journal Article |
| author |
Trumel Redmond |
| author_sort |
Trumel Redmond |
| title |
Role of natural resource abundance, international trade and financial development in the economic development of selected countries |
| title_short |
Role of natural resource abundance, international trade and financial development in the economic development of selected countries |
| title_full |
Role of natural resource abundance, international trade and financial development in the economic development of selected countries |
| title_fullStr |
Role of natural resource abundance, international trade and financial development in the economic development of selected countries |
| title_full_unstemmed |
Role of natural resource abundance, international trade and financial development in the economic development of selected countries |
| title_sort |
role of natural resource abundance, international trade and financial development in the economic development of selected countries |
| publisher |
Elsevier |
| publishDate |
2020 |
| url |
http://digital.lib.ueh.edu.vn/handle/UEH/60081 https://doi.org/10.1016/j.resourpol.2020.101591 |
| work_keys_str_mv |
AT trumelredmond roleofnaturalresourceabundanceinternationaltradeandfinancialdevelopmentintheeconomicdevelopmentofselectedcountries |
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1810056668599287808 |