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Resource Rents, Democracy & the Eight Policy Lessons

Author

Listed:
  • David Bonilla

    (Universidad Nacional Autónoma de México, México)

  • Colin J. Axon

    (Brunel University, U.K.)

  • Justin D.K. Bishop

    (University of Cambridge, U.K.)

Abstract

Examinamos si las rentas de recursos naturales son probablemente mejor administradas bajo instituciones fuertes (o falta de estas), y de serlo así si eso contribuye al desarrollo económico de países con abundantes recursos naturales. Estimamos un modelo usando evidencia de booms (1970-2012) de recursos, rentas de recursos, capital natural, indicadores socio-económicos y de instituciones. Demostramos por un lado 1) países con capital natural y riqueza del subsuelo están asociados a una sana democracia lo que mitiga la maldición de los recursos naturales; por el otro lado 2) altos niveles de renta están negativamente asociados a la baja calidad de instituciones lo que profundiza la maldición. El crecimiento económico a largo plazo está asociado a el capital natural pero tal crecimiento esta negativamente asociado en países que registran altos percepciones de rentas. Recomendamos transparencia en: la distribución de rentas, las ventas de petróleo, distribución de licencias y la recaudación de rentas. Una limitación es la falta de información: leyes (sector energético) que produzcan el crecimiento. Explicamos el impacto de largo plazo de el cambio democrático sobre la gestión de la rentas.

Suggested Citation

  • David Bonilla & Colin J. Axon & Justin D.K. Bishop, 2020. "Resource Rents, Democracy & the Eight Policy Lessons," Remef - Revista Mexicana de Economía y Finanzas Nueva Época REMEF (The Mexican Journal of Economics and Finance), Instituto Mexicano de Ejecutivos de Finanzas, IMEF, vol. 15(4), pages 599-620, Octubre -.
    • Handle: RePEc:imx:journl:v:15:y:2020:i:4:p:599-620
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    File URL: https://www.remef.org.mx/index.php/remef/article/view/556
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    Citations

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    Cited by:

    1. Krummel, Daniel & Siegfried, Patrick, 2021. "The Dark Side of Samsung’s Value Chain: The Human Costs of Cobalt Mining “BLOOD, SWEAT AND COBALT”," MPRA Paper 111405, University Library of Munich, Germany.
    2. Pham, Tien Duc & Dwyer, Larry & Su, Jen-Je & Ngo, Tramy, 2021. "COVID-19 impacts of inbound tourism on Australian economy," Annals of Tourism Research, Elsevier, vol. 88(C).
    3. Ferreira, João J. & Gomes, Sofia & Lopes, João M. & Zhang, Justin Z., 2023. "Ticking time bombs: The MENA and SSA regions' geopolitical risks," Resources Policy, Elsevier, vol. 85(PA).
    4. Alomari, Mohammed & Selmi, Refk & Mensi, Walid & Ko, Hee-Un & Kang, Sang Hoon, 2024. "Dynamic spillovers in higher moments and jumps across ETFs and economic and financial uncertainty factors in the context of successive shocks," The Quarterly Review of Economics and Finance, Elsevier, vol. 93(C), pages 210-228.

    More about this item

    Keywords

    Ingresos petroleros; riqueza del subsuelo; instituciones; México; China;
    All these keywords.

    JEL classification:

    • Q33 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Resource Booms (Dutch Disease)
    • Q38 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Government Policy (includes OPEC Policy)
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy
    • Q35 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Hydrocarbon Resources

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