Natural Resources, Institutions, and Economic Growth: The Case of Nigeria

40 Pages Posted: 24 Jul 2017

See all articles by Anna Katharina Raggl

Anna Katharina Raggl

Vienna University of Economics and Business; Wittgenstein Centre for Demography and Global Human Capital

Date Written: July 20, 2017

Abstract

Using growth regressions with panel data, this study identifies the determinants of economic growth, highlighting in particular the role of natural resources and institutional quality. The overarching aim of this exercise is to learn about the drivers of growth in Nigeria, and to predict growth rates of gross domestic product per capita for the country under different scenarios. This study finds that a growth-enhancing effect of natural resources is tied to a sound institutional environment and low levels of corruption. Accumulation of human as well as physical capital, but also the quality of institutions and natural resource rents are estimated to be particular important ingredients for a prosperous economic development in Nigeria.

Keywords: Commodities, Economic Systems, Oil & Gas

Suggested Citation

Raggl, Anna Katharina, Natural Resources, Institutions, and Economic Growth: The Case of Nigeria (July 20, 2017). World Bank Policy Research Working Paper No. 8153, Available at SSRN: https://ssrn.com/abstract=3006226

Anna Katharina Raggl (Contact Author)

Vienna University of Economics and Business ( email )

Welthandelsplatz 1
Vienna, 1020
Austria

Wittgenstein Centre for Demography and Global Human Capital ( email )

Nordbergstra├če 15/A/6
Vienna, 1090
Austria

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