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

• Marbuah, George

  • Institutionen för ekonomi, Sveriges lantbruksuniversitet
    

• Tei Mensah, Justice

  • Institutionen för ekonomi, Sveriges lantbruksuniversitet
    

• Amuakwa Mensah, Franklin

  • Institutionen för ekonomi, Sveriges lantbruksuniversitet
    

Globala målen

SDG12 Säkerställa hållbara konsumtions- och produktionsmönster


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