Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: http://hdl.handle.net/10419/52498
Autor:innen: 
Arezki, Rabah
Gylfason, Thorvaldur
Datum: 
2011
Schriftenreihe/Nr.: 
CESifo Working Paper No. 3619
Verlag: 
Center for Economic Studies and ifo Institute (CESifo), Munich
Zusammenfassung: 
We use a new dataset on non-resource GDP to examine the impact of commodity price volatility on economic growth in a panel of up to 158 countries during the period 1970-2007. Our main finding is that commodity price volatility leads to a significant increase in non-resource GDP growth in democracies, but to no significant increase in autocracies. To explain this result, we show that increased commodity price volatility leads to a statistically significant and quantitatively large increase in net national saving in democracies. In autocracies, on the other hand, net national saving decreased significantly. Our results hold true when using indicators capturing the quality of economic institutions in lieu of indicators of political institutions.
Schlagwörter: 
commodity prices
volatility
democracy
economic growth
JEL: 
D74
D63
F32
Q33
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
210.19 kB





Publikationen in EconStor sind urheberrechtlich geschützt.