The Resource Curse Revisited：Evidence from Natural Resource Based Economy

• Main Authors: Chien-Tsuen Liao, 廖建村
• Other Authors: Chin-Chia Liang
• Format: Others
• Language: zh-TW
• Published: 2015
• Online Access: http://ndltd.ncl.edu.tw/handle/87222150865312572712

碩士 === 大葉大學 === 國際企業管理學系碩士班 === 103 === This article investigates the potential of nonlinear causal relationships between financial development and economic growth in Angola for the period 1995-2012, an economy heavily dependent on natural resources. We extend existing literature by treating separately the oil and non-oil sectors of the economy. By using the nonlinear and asymmetric causality test of Hatemi-J (2012), the results show that a unidirectional causality from financial development to oil and non-oil GDP. A major implication of our finding is that financial development promotes economic growth in Angola and that policies at enhancing the development of the financial sector can help to stimulate economic growth.