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Article Dans Une Revue Economic Modelling Année : 2021

Growth, institutions and oil dependence: a buffered threshold panel approach

Saïd Souam
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Yacine Belarbi
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Faycal Hamdi
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Abderaouf Khalfi
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Résumé

We examine the combined effects of oil dependence and the quality of institutions on economic growth. To do so, we introduce a new buffered thresholdpanel data model and apply it to 19 oil rent-dependent countries over the period 1996-2017. We show that the relationship between growth and oil dependence is not linear. More precisely, three categories of oil-dependentcountries are identified. Only countries with high-quality institutions are very stable. All the other countries have experienced a transition into a buffer zone and are potentially in a transition between two different regimes.When considering oil dependence as a threshold variable, it appears that the quality of institutions has a positive and significant effect on growth when dependence is either low or high. More interestingly, for countries with intermediate levels of oil-dependence, the quality of the institutions negatively impacts growth. Some of these countries have experienced something of an oil-dependence trap.

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hal-03148732 , version 1 (24-04-2023)

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  • HAL Id : hal-03148732 , version 1

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Saïd Souam, Yacine Belarbi, Faycal Hamdi, Abderaouf Khalfi. Growth, institutions and oil dependence: a buffered threshold panel approach. Economic Modelling, 2021, 99. ⟨hal-03148732⟩
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