paper diversification.pdf (456.89 kB)
Oil discovery, political institutions and economic diversification
journal contribution
posted on 2023-06-09, 15:15 authored by Nouf Alsharif, Sambit BhattacharyyaSambit BhattacharyyaDiversification is touted as a desirable policy objective for oil-rich nations because it reduces exposure to volatility. However, the empirical relationship between petroleum and diversification is not well understood. Here, we test the effect of giant oil discoveries on diversification using a panel dataset of 136 countries observed over the period from 1962 to 2012. We notice non-oil sector export concentration 8 years after a discovery. However, we do not observe any effect on the structure of employment in non-resource and manufacturing sectors. Democratic political institutions moderate the export and employment concentration effects of petroleum discovery.
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Publication status
- Published
File Version
- Accepted version
Journal
Scottish Journal of Political EconomyISSN
0036-9292Publisher
WileyExternal DOI
Issue
3Volume
66Page range
459-488Department affiliated with
- Economics Publications
Full text available
- Yes
Peer reviewed?
- Yes
Legacy Posted Date
2018-09-27First Open Access (FOA) Date
2018-09-27First Compliant Deposit (FCD) Date
2018-09-26Usage metrics
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