Precious metal abundance and economic growth: Evidence from top precious metal producer countries

BİLDİRİCİ M. E., Gokmenoglu S. M.

RESOURCES POLICY, cilt.65, 2020 (SSCI) identifier identifier

  • Yayın Türü: Makale / Tam Makale
  • Cilt numarası: 65
  • Basım Tarihi: 2020
  • Doi Numarası: 10.1016/j.resourpol.2019.101572
  • Dergi Adı: RESOURCES POLICY
  • Derginin Tarandığı İndeksler: Social Sciences Citation Index (SSCI), Scopus, International Bibliography of Social Sciences, Aerospace Database, Aquatic Science & Fisheries Abstracts (ASFA), Business Source Elite, Business Source Premier, Communication Abstracts, Compendex, EconLit, Geobase, Index Islamicus, INSPEC, Metadex, PAIS International, Pollution Abstracts, Public Affairs Index, Civil Engineering Abstracts
  • Anahtar Kelimeler: Economic growth, Precious metals, Metal curse, Resource curse, STARDL, NATURAL-RESOURCE ABUNDANCE, INSTITUTIONAL QUALITY, FINANCIAL DEVELOPMENT, DUTCH DISEASE, CURSE, OIL, PANEL, INEQUALITY, DEPENDENCE, EDUCATION
  • Yıldız Teknik Üniversitesi Adresli: Evet

Özet

In this study, metal curse hypothesis was suggested for top precious metal producer countries, i.e. Australia, Canada, Mexico, Philippines, Peru, South Africa and the USA by using nonlinear Smooth Transition Autoregressive Distributed Lag (STARDL) models for the period 1963-2017. We used precious metal production data as an indicator for resource richness. According to the analysis results of STARDL models, we found statistically significant regime specific long-run and short-run relationships between economic growth and each precious metal type under analysis. We couldn't find supporting results for metal curse for Canada, Philippines, Peru, South Africa and the USA, but the positive effect of each precious metal abundance is asymmetric between the regimes. For Australia and Mexico, the effect of precious metal abundance on economic growth is various depending on precious metal type, the regime which the economy is in, the short- and long-run.