Oil and Growth in Transition Countries

CER-ETH - Center of Economic Research at ETH Zurich, Working Paper No. 09/108

32 Pages Posted: 18 May 2009

See all articles by Christa N. Brunnschweiler

Christa N. Brunnschweiler

Norwegian University of Science and Technology (NTNU) - Department of Economics; University of Oxford - OxCarre

Date Written: May 7, 2009

Abstract

This paper examines the impact of oil on economic growth in transition economies of the former Soviet Union (FSU) and Central and Eastern Europe (CEE). We use oil production and reserves data in a series of panel estimations to show that oil has had strong and robust positive growth effects between 1990-2006. This is confirmed when we consider the different oil ownership structures. Additionally, we find that privatization levels have had positive growth effects, while privatization speed has had negative effects on growth.

Keywords: oil, resource curse, economic growth, transition countries, oil ownership

JEL Classification: Q32, O40, O13, P28

Suggested Citation

Brunnschweiler, Christa N., Oil and Growth in Transition Countries (May 7, 2009). CER-ETH - Center of Economic Research at ETH Zurich, Working Paper No. 09/108. Available at SSRN: https://ssrn.com/abstract=1403313 or http://dx.doi.org/10.2139/ssrn.1403313

Christa N. Brunnschweiler (Contact Author)

Norwegian University of Science and Technology (NTNU) - Department of Economics ( email )

N-7491 Trondheim
Norway

University of Oxford - OxCarre ( email )

Mansfield Road
Oxford, Oxfordshire OX1 4AU
United Kingdom

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