Dutch Disease in Former Soviet Union: Witch-Hunting?
Organization for Economic Co-Operation and Development (OECD); CESifo (Center for Economic Studies and Ifo Institute for Economic Research); Université Paris X Nanterre - Department of Economics; William Davidson Institute
April 13, 2009
BOFIT Discussion Paper No. 4/2009
CASE Network Studies and Analyses No. 380
This study seeks to determine the extent to which countries of the former Soviet Union are “infected” by the Dutch Disease. We take a detailed look at the functioning of the trans-mission mechanism of the Dutch Disease, i.e. the chains that run from commodity prices to real output in manufacturing. We complement this with two econometric exercises. First, we estimate nominal and real exchange rate models to see whether commodity prices are correlated with the exchange rate. Second, we run growth equations to analyse the possible effects of commodity prices and the dependency of economic growth on natural resources.
Number of Pages in PDF File: 31
Keywords: Dutch disease, commodity prices, exchange rate, Commonwealth of Independent States, growth, oil, CIS, transition
JEL Classification: E31, E32, F31, Q33, O11, P17working papers series
Date posted: April 15, 2009
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