Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/48356 
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dc.contributor.authorBhattacharyya, Sambiten
dc.contributor.authorHodler, Rolanden
dc.date.accessioned2011-07-15T14:21:59Z-
dc.date.available2011-07-15T14:21:59Z-
dc.date.issued2011-
dc.identifier.urihttp://hdl.handle.net/10419/48356-
dc.description.abstractWe theoretically and empirically examine the relationship between natural resource revenues and financial development. In the theoretical part, we present a politico-economic model in which contract enforcement is low and decreasing in resource revenues when political institutions are poor, but high otherwise. As poor contract enforcement leads to low financial development, the model predicts that resource revenues hinder financial development in countries with poor political institutions, but not in countries with comparatively better political institutions. We test our theoretical predictions systematically using panel data covering the period 1970 to 2005 and 133 countries. Our estimates confirm our theoretical predictions. Our main results hold when we control country fixed effects, time varying common shocks, income and various additional covariates. They are also robust to alternative estimation techniques, various alternative measures of financial development and political institutions, as well as across different samples and data frequencies. We present further evidence using panel data covering the period 1870 to 1940 and 31 countries.en
dc.language.isoengen
dc.publisher|aZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft |cKiel und Hamburgen
dc.relation.ispartofseries|aProceedings of the German Development Economics Conference, Berlin 2011 |x11en
dc.subject.jelD7en
dc.subject.jelO1en
dc.subject.ddc330en
dc.subject.keywordNatural resourcesen
dc.subject.keywordpolitical institutionsen
dc.subject.keywordfinancial developmenten
dc.titleDo Natural Resource Revenues Hinder Financial Development? The Role of Political Institutions-
dc.typeConference Paperen
dc.identifier.ppn665323964en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:gdec11:11en

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