Is there a resource curse phenomenon for natural gas?
Autor(a) principal: | |
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Data de Publicação: | 2019 |
Tipo de documento: | Dissertação |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10400.6/9850 |
Resumo: | This study focuses on the natural gas-economic growth nexus and intends to test the hypothesis of “resource course”. Panel data techniques were applied to investigate the role of natural gas in economic growth, for 25 producers of natural gas, from 1993 to 2015. Consequently, three different approaches were used and compared, in order to test the “resource curse” hypothesis, namely: production, reserves, and the rents approach. Due to the data characteristics, the Autoregressive Distributed Lag model (ARDL) proved to be the most suitable for capturing the dynamic relationship in short- and long-run effects. The Driscoll-Kray estimator with fixed effects was used, given the presence of the phenomena of heteroscedasticity, first order autocorrelation, contemporaneous correlation and cross-sectional dependence. Results suggest that natural gas consumption drives economic growth in both the short- and long- run. The presence of the resource curse phenomenon was not validated for any of the three approaches. Policymakers should realize the characteristics of natural gas as a transition source. Indeed, natural gas does not fit the pattern of dependency as is historically observed in producers’ countries for other resources, such as oil. |
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Is there a resource curse phenomenon for natural gas?Evidence from abundant countriesArdlCrescimento EconómicoGás NaturalMaldição dos RecursosDomínio/Área Científica::Ciências Sociais::Economia e GestãoThis study focuses on the natural gas-economic growth nexus and intends to test the hypothesis of “resource course”. Panel data techniques were applied to investigate the role of natural gas in economic growth, for 25 producers of natural gas, from 1993 to 2015. Consequently, three different approaches were used and compared, in order to test the “resource curse” hypothesis, namely: production, reserves, and the rents approach. Due to the data characteristics, the Autoregressive Distributed Lag model (ARDL) proved to be the most suitable for capturing the dynamic relationship in short- and long-run effects. The Driscoll-Kray estimator with fixed effects was used, given the presence of the phenomena of heteroscedasticity, first order autocorrelation, contemporaneous correlation and cross-sectional dependence. Results suggest that natural gas consumption drives economic growth in both the short- and long- run. The presence of the resource curse phenomenon was not validated for any of the three approaches. Policymakers should realize the characteristics of natural gas as a transition source. Indeed, natural gas does not fit the pattern of dependency as is historically observed in producers’ countries for other resources, such as oil.Este estudo centra-se no nexo crescimento económico-gás natural e pretende testar a hipótese de “maldição dos recursos”. Técnicas de dados em painel foram aplicadas para investigar o papel do gás natural no crescimento econômico, para 25 produtores de gás natural, de 1993 a 2015. Consequentemente, três diferentes abordagens foram usadas e comparadas, para testar a hipótese de “maldição dos recursos": produção, reservas e rendas. Devido às características dos dados, o modelo Autoregressive Distributed Lag (ARDL) provou ser o mais adequado para capturar a relação dinâmica em efeitos de curto e longo prazo. Foi utilizado o estimador Driscoll-Kray com efeitos fixos, dada a presença dos fenômenos de heterocedasticidade, autocorrelação de primeira ordem, correlação contemporânea e dependência transversal. Os resultados sugerem que o consumo de gás natural impulsiona o crescimento económico tanto a curto como a longo prazo. A presença do fenómeno da maldição dos recursos não foi validada para nenhuma das três abordagens. Os formuladores de políticas devem perceber as características do gás natural como fonte de transição. De facto, o gás natural não se enquadra no padrão de dependência, como é historicamente observado nos países produtores de outros recursos, como o petróleo.Marques, António Manuel CardosouBibliorumPires, Patrícia Silva2022-06-23T00:30:17Z2019-07-242019-06-242019-07-24T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10400.6/9850TID:202365093enginfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-12-15T09:51:10Zoai:ubibliorum.ubi.pt:10400.6/9850Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T00:49:54.973658Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
Is there a resource curse phenomenon for natural gas? Evidence from abundant countries |
title |
Is there a resource curse phenomenon for natural gas? |
spellingShingle |
Is there a resource curse phenomenon for natural gas? Pires, Patrícia Silva Ardl Crescimento Económico Gás Natural Maldição dos Recursos Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
title_short |
Is there a resource curse phenomenon for natural gas? |
title_full |
Is there a resource curse phenomenon for natural gas? |
title_fullStr |
Is there a resource curse phenomenon for natural gas? |
title_full_unstemmed |
Is there a resource curse phenomenon for natural gas? |
title_sort |
Is there a resource curse phenomenon for natural gas? |
author |
Pires, Patrícia Silva |
author_facet |
Pires, Patrícia Silva |
author_role |
author |
dc.contributor.none.fl_str_mv |
Marques, António Manuel Cardoso uBibliorum |
dc.contributor.author.fl_str_mv |
Pires, Patrícia Silva |
dc.subject.por.fl_str_mv |
Ardl Crescimento Económico Gás Natural Maldição dos Recursos Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
topic |
Ardl Crescimento Económico Gás Natural Maldição dos Recursos Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
description |
This study focuses on the natural gas-economic growth nexus and intends to test the hypothesis of “resource course”. Panel data techniques were applied to investigate the role of natural gas in economic growth, for 25 producers of natural gas, from 1993 to 2015. Consequently, three different approaches were used and compared, in order to test the “resource curse” hypothesis, namely: production, reserves, and the rents approach. Due to the data characteristics, the Autoregressive Distributed Lag model (ARDL) proved to be the most suitable for capturing the dynamic relationship in short- and long-run effects. The Driscoll-Kray estimator with fixed effects was used, given the presence of the phenomena of heteroscedasticity, first order autocorrelation, contemporaneous correlation and cross-sectional dependence. Results suggest that natural gas consumption drives economic growth in both the short- and long- run. The presence of the resource curse phenomenon was not validated for any of the three approaches. Policymakers should realize the characteristics of natural gas as a transition source. Indeed, natural gas does not fit the pattern of dependency as is historically observed in producers’ countries for other resources, such as oil. |
publishDate |
2019 |
dc.date.none.fl_str_mv |
2019-07-24 2019-06-24 2019-07-24T00:00:00Z 2022-06-23T00:30:17Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/masterThesis |
format |
masterThesis |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10400.6/9850 TID:202365093 |
url |
http://hdl.handle.net/10400.6/9850 |
identifier_str_mv |
TID:202365093 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
instname_str |
Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
instacron_str |
RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
collection |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository.name.fl_str_mv |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
repository.mail.fl_str_mv |
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1799136390262292480 |