The Dutch Disease in Angola: An Empirical Analysis

Engineering Proceedings

article

Zsuzsanna Biedermann¹  Tamás Barczikay²  László Szalai³ 

[1]Centre for Economic and Regional Studies, Institute of World Economics, Hungarian Academy of Sciences Centre of Research Excellence

[2]Centre for Social Sciences, Hungarian Academy of Sciences Centre of Research Excellence

[3]Department of Economics, Budapest University of Technology and Economics

关键词: resource curse;    spending effect;    real exchange rate;    cointegration;   

DOI  :  10.3390/engproc2023039040

来源: mdpi

【 摘 要 】

Despite being the second largest oil exporter in Africa, Angola continues to lag behind in most macroeconomic and institutional indicators. At least partially, this is a consequence of the Dutch disease, a phenomenon that establishes a clear link between high resource endowments and lack of economic diversity through the loss of international competitiveness in non-resource sectors. In this paper, we use a nonlinear autoregressive distributed lag (NARDL) model to identify the cointegrated relationship between international oil prices and the real effective exchange rate of the kwanza, which is a striking sign of the presence of the Dutch disease.

【 授权许可】

Unknown