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Forskningsartikel2017Vetenskapligt granskadÖppen tillgång

Natural Resource Revenues and Public Investment in Resource-rich Economies in Sub-Saharan Africa

Karimu, Amin; Adu, George; Marbuah, George; Mensah, Justice Tei; Amuakwa-Mensah, Franklin

Sammanfattning

The general policy prescription for resource-rich countries is that, for sustainable consumption, a greater percentage of the windfall from resource rents should be channeled into accumulating foreign assets such as a sovereign public fund as done in Norway and other developed but resource-rich countries. This might not be a correct policy prescription for resource-rich sub-Saharan African (SSA) countries, where public capital is very low to support the needed economic growth. In such countries, rents from resources serve as an opportunity to scale-up the needed public capital. Using a panel data for the period 19902013, we find in line with the scaling-up hypothesis that resource rents significantly increases public investment in SSA and that this tends to depend on the quality of political institutions. Moreover, we also find evidence of a positive effect of public investment on economic growth, which also depends on the level of resource rents.

Publicerad i

Review of Development Economics
2017, Volym: 2017, nummer: 4, sidor: 107-130

        SLU författare

        • Globala målen

          SDG12 Hållbar konsumtion och produktion

          UKÄ forskningsämne

          Nationalekonomi

          Publikationens identifierare

          DOI: https://doi.org/10.1111/rode.12313

          Permanent länk till denna sida (URI)

          https://res.slu.se/id/publ/81345