The World Bank Research Observer, World Bank Group, vol. " What Can We Learn about the "Resource Curse" from Foreign Aid?," " Commodity Prices, Growth, and the Natural Resource Curse: Reconciling a Conundrum,"Ģ007-15, Centre for the Study of African Economies, University of Oxford. The Quarterly Review of Economics and Finance, Elsevier, vol. " Financial development and dynamic investment behavior: Evidence from panel VAR," Working Paper Series, Macroeconomic Issues " A simple estimator of cointegrating vectors in higher order integrated systems," " A PANIC Attack on Unit Roots and Cointegration,"Įconometrica, Econometric Society, vol. S456732, Boston College Department of Economics, revised. " PESCADF: Stata module to perform Pesaran's CADF panel unit root test in presence of cross section dependence," " General Diagnostic Tests for Cross Section Dependence in Panels,"ġ240, Institute of Labor Economics (IZA). " ‘General Diagnostic Tests for Cross Section Dependence in Panels’,"Ġ435, Faculty of Economics, University of Cambridge. " Nonlinear IV unit root tests in panels with cross-sectional dependency," " Homogenous panel unit root tests under cross sectional dependence: Finite sample modifications and the wild bootstrap,"Ĭomputational Statistics & Data Analysis, Elsevier, vol. " Error-correction–based cointegration tests for panel data," Damiaan Persyn & Joakim Westerlund, 2008." Bootstrap Unit Root Tests in Panels with Cross-Sectional Dependency,"ġ251, Cowles Foundation for Research in Economics, Yale University.Ģ000-01, Rice University, Department of Economics. " A Parametric approach to the Estimation of Cointegration Vectors in Panel Data,"Įconometric Reviews, Taylor & Francis Journals, vol. " Review of the Experience with Oil Stabilization and Savings Funds in Selected Countries," " Riding the Roller Coaster: Fiscal Policies of Nonrenewable Resource Exporters in Latin America and the Caribbean," Review of Economic Studies, Oxford University Press, vol. " Statistical Inference in Instrumental Variables Regression with I(1) Processes," 70(1), pages 191-221, January.Įconometric Society World Congress 2000 Contributed Papersīoston College Working Papers in EconomicsĤ40, Boston College Department of Economics. " Determining the Number of Factors in Approximate Factor Models,"Įconometrica, Econometric Society, vol. The World Bank Economic Review, World Bank Group, vol. " The Varieties of Resource Experience: Natural Resource Export Structures and the Political Economy of Economic Growth," Jonathan Isham & Michael Woolcock & Lant Pritchett & Gwen Busby, 2005.Mehlum, Halvor & Moene, Karl-Ove & Torvik, Ragnar, 2003.Ģ9/2002, Oslo University, Department of Economics.Ġ210003, University Library of Munich, Germany.Halvor Mehlum & Karl Moene & Ragnar Torvik, 2004.Ĭ009_012, DEGIT, Dynamics, Economic Growth, and International Trade.Halvor Mehlum & Karl Moene & Ragnar Torvik, 2002.Ġ210004, University Library of Munich, Germany.Halvor Mehlum & Karl Moene & Ragnar Torvik, 2006.Įconomic Journal, Royal Economic Society, vol.
& Pesaran, M.H., 2000.Ġ003, Faculty of Economics, University of Cambridge. " Estimation and Inference In Short Panel Vector Autoregressions with Unit Roots And Cointegration," " Estimation and Inference in Short Panel Vector Autoregressions with Unit Roots and Cointegration," The results show that the oil revenue fund of Kazakhstan is not effective in stabilizing exchange rate, this result is statistically not significant. The results show that the oil revenue fund of Azerbaijan is effective in stabilizing exchange rate, but this result is statistically not significant. The results of panel data estimation provide a list of rules (such as accumulation rule, investment, reference oil price and percentage which accumulates funds) which make funds effective. The results show that funds can stabilize exchange rates, however just the existence of funds does not guarantee their effectiveness. The effectiveness of funds was tested using country-by-country estimation and panel data estimation. The data was tested using panel and country-by-country unit roots and cointegration tests. The empirical model is based on the findings theoretical model. An effective fund must be able to de-link exchange rates from oil export. The effect of different types of funds on correlation between exchange rates and oil export was tested using data of Azerbaijan, Kazakhstan and other 26 oil-producing countries. The objectives of this paper to determine what makes funds effective in oil-producing countries. However their effectiveness is still under debates.
Recently it has become popular among oil-producing countries to establish oil revenue funds, which are believed to stabilize the economy.
0 kommentar(er)
