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Is there a resource curse phenomenon for natural gas? Evidence from countries with abundant natural gas

机译:有天然气有资源诅咒现象吗? 来自天然气丰富的国家的证据

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摘要

This study focuses on the natural gas-economic growth nexus and intends to test the hypothesis of the "resource curse". Panel data techniques were applied to investigate the role of natural gas in economic growth for 25 producers of natural gas, from 1993 to 2015. Three different approaches were used and compared to test the "resource curse" hypothesis, namely: production, reserves, and rents. Due to the data's characteristics, an Autoregressive Distributed Lag model (ARDL) proved to be the most suitable for capturing the dynamic relationship in short- and long-run effects. The Driscoll-ICray estimator with fixed effects was used, given the presence of the phenomena of heteroskedasticity, first order autocorrelation, contemporaneous correlation and cross-sectional dependence. Results suggest that natural gas consumption drives economic growth in both the short- and long-run. There is some kind of evidence of the resource curse phenomenon, but only in the production approach. Policymakers should understand the characteristics of natural gas as a transitional source. Indeed, it seems that natural gas does not fit the pattern of dependency as is historically observed in other natural resource producers' countries, such as oil.
机译:本研究侧重于天然气经济增长Nexus,并打算测试“资源诅咒”的假设。应用面板数据技术来研究天然气在1993年至2015年的25种天然气生产国的经济增长中的作用。使用三种不同的方法,并与测试“资源诅咒”假设,即:生产,储备和租金。由于数据的特点,自回归分布式滞后模型(ARDL)被证明是最适合捕获短期和长期效果的动态关系。鉴于异源性瘢痕度的现象,第一订单自相关,同期相关性和横截面依赖性,使用具有固定效果的Driscoll-ICRAY估计器。结果表明,天然气消耗在短期和长期运行中推动了经济增长。有一些证据证明了资源诅咒现象,但只有在生产方面。政策制定者应该了解天然气的特点作为过渡来源。实际上,似乎天然气并不符合历史上观察到的依赖模式,在其他自然资源生产商的国家,如石油。

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