The Effect of Natural Resource Dependence and Macroeconomic Indicators on Economic Growth: Panel Data Analysis for MENA Countries

Onur Yağış

Makale detayları

The Effect of Natural Resource Dependence and Macroeconomic Indicators on Economic Growth: Panel Data Analysis for MENA Countries

Yazarlar:

Onur Yağış

Yayıncı:

Bolu Abant Izzet Baysal University

Ana Başlıklar:

Büyüme

Dergi:

Ekonomik ve Sosyal Araştırmalar Dergisi Vol.20 Issue 1, pp.112-131

Belge Tipi:

Makale

Yayın Tarihi:

6/2024

Belge Dili:

Türkçe

Document ID (Org No.):

2001320559

pISSN:

1306-2174

Anahtar kelimeler:

Özet:

 Being able to take part in the rapid change process occurring in the globalizing world is a situation that countries want. In this regard, the effective use of natural resources is very important. While this change is taking place, the economic growth process must be accelerated in order to achieve success, especially in developing countries. Underdeveloped and developing countries that aim for economic growth have developed and achieved prosperity in some periods by using their natural resources effectively. Developed countries have reached this level by ensuring effective use of natural resources. Existing natural resource capacity is an important production factor in the economic growth and development phase. However, unconscious and unplanned overuse of capacity and the transfer of all other opportunities to the relevant parties with a single factor cause countries to experience growth problems. Unconscious and unplanned use of natural resource capacity and if economic growth is based on resource use contributes to the validity of the natural resource curse. In this study, it is aimed to analyze the effects of natural resource dependency and macroeconomic indicators on economic growth for MENA countries between 1990 and 2020 using the panel data analysis method and to contribute to the literature. When looking at the effects of natural resource dependence on economic growth, a positive significant relationship was found. When the macroeconomic indicators included in the analysis are examined, it is seen that the increases in the labor force have a significant and negative impact on economic growth. A significant and positive effect of population, gross fixed capital and financial development on economic growth has been determined. Based on the results, it can be said that the curse of natural resources is not valid, but the blessing of natural resources is valid.

 Being able to take part in the rapid change process occurring in the globalizing world is a situation that countries want. In this regard, the effective use of natural resources is very important. While this change is taking place, the economic growth process must be accelerated in order to achieve success, especially in developing countries. Underdeveloped and developing countries that aim for economic growth have developed and achieved prosperity in some periods by using their natural resources effectively. Developed countries have reached this level by ensuring effective use of natural resources. Existing natural resource capacity is an important production factor in the economic growth and development phase. However, unconscious and unplanned overuse of capacity and the transfer of all other opportunities to the relevant parties with a single factor cause countries to experience growth problems. Unconscious and unplanned use of natural resource capacity and if economic growth is based on resource use contributes to the validity of the natural resource curse. In this study, it is aimed to analyze the effects of natural resource dependency and macroeconomic indicators on economic growth for MENA countries between 1990 and 2020 using the panel data analysis method and to contribute to the literature. When looking at the effects of natural resource dependence on economic growth, a positive significant relationship was found. When the macroeconomic indicators included in the analysis are examined, it is seen that the increases in the labor force have a significant and negative impact on economic growth. A significant and positive effect of population, gross fixed capital and financial development on economic growth has been determined. Based on the results, it can be said that the curse of natural resources is not valid, but the blessing of natural resources is valid.

 Being able to take part in the rapid change process occurring in the globalizing world is a situation that countries want. In this regard, the effective use of natural resources is very important. While this change is taking place, the economic growth process must be accelerated in order to achieve success, especially in developing countries. Underdeveloped and developing countries that aim for economic growth have developed and achieved prosperity in some periods by using their natural resources effectively. Developed countries have reached this level by ensuring effective use of natural resources. Existing natural resource capacity is an important production factor in the economic growth and development phase. However, unconscious and unplanned overuse of capacity and the transfer of all other opportunities to the relevant parties with a single factor cause countries to experience growth problems. Unconscious and unplanned use of natural resource capacity and if economic growth is based on resource use contributes to the validity of the natural resource curse. In this study, it is aimed to analyze the effects of natural resource dependency and macroeconomic indicators on economic growth for MENA countries between 1990 and 2020 using the panel data analysis method and to contribute to the literature. When looking at the effects of natural resource dependence on economic growth, a positive significant relationship was found. When the macroeconomic indicators included in the analysis are examined, it is seen that the increases in the labor force have a significant and negative impact on economic growth. A significant and positive effect of population, gross fixed capital and financial development on economic growth has been determined. Based on the results, it can be said that the curse of natural resources is not valid, but the blessing of natural resources is valid.

 Küreselleşen dünyada meydana gelen hızlı değişim sürecinde yer alabilmek ülkelerin istediği bir durumdur. Bu doğrultuda sahip olunan doğal kaynakların etkili kullanımı oldukça önemlidir. Bu değişim yaşanırken özellikle gelişmekte olan ülkelerde başarının sağlanabilmesi için ekonomik büyüme sürecinin hızlandırılması gerekmektedir. Ekonomik büyüme hedefi bulunan azgelişmiş ve gelişmekte olan ülkeler doğal kaynaklarını etkili kullanarak bazı dönemlerde gelişerek refaha ulaşmışlardır. Gelişmiş ülkeler ise etkili doğal kaynak kullanımı sağlayarak bu seviyeye ulaşmıştır. Varolan doğal kaynak kapasitesi iktisadi büyüme ve kalkınma aşamasında önemli bir üretim faktörüdür. Fakat kapasitenin bilinçsiz ve plansız biçimde fazla kullanımı ayrıca diğer tüm olanakların tek faktörle ilgili taraflara aktarım ülkelerin büyüme problemleri yaşamalarına neden olmaktadır. Doğal kaynak kapasitesinin bilinçsiz ve plansız kullanımı ve ekonomik büyümenın kaynak kullanımına dayandırıldığı takdirde doğal kaynak lanetinin geçerli olmasına katkı sağlamaktadır. Bu çalışmada, MENA ülkeleri için 1990-2020 yılları arasında doğal kaynak bağımlılığının ve makroekonomik göstergelerin ekonomik büyüme üzerindeki etkileri panel veri analizi yöntemiyle analiz edilmesi ve literatüre katkı sağlanması amaçlanmıştır. Doğal kaynak bağımlılığının ekonomik büyüme üzerindeki etkilerine bakıldığında pozitif anlamlı bir ilişki bulunmuştur. Analizde dâhil edilen makroekonomik göstergeler incelendiğinde ise işgücünde meydana gelen artışların ekonomik büyüme üzerinde anlamlı ve negatif bir etki yarattığı görülmektedir. Nüfus, gayri safi sabit sermaye ve finansal gelişmenin ekonomik büyüme üzerinde anlamlı ve pozitif etkisi tespit edilmiştir. Bulunan sonuçlardan hareketle doğal kaynak lanetinin geçerli olmadığı, doğal kaynak nimetinin geçerli olduğu söylenebilmektedir.

Makale detayları

The Effect of Natural Resource Dependence and Macroeconomic Indicators on Economic Growth: Panel Data Analysis for MENA Countries

Yazarlar:

Onur Yağış

Yayıncı:

Bolu Abant Izzet Baysal University

Ana Başlıklar:

Büyüme

Dergi:

Ekonomik ve Sosyal Araştırmalar Dergisi Vol.20 Issue 1, pp.112-131

Belge Tipi:

Makale

Yayın Tarihi:

6/2024

Belge Dili:

Türkçe

Document ID (Org No.):

2001320559

pISSN:

1306-2174

Natural Resource Dependence

Macroeconomıc Indıcators

Economıc Growth

Mena Countrıes

Panel Data AnalysısDoğal Kaynak Bağımlılığı

Makroekonomik Göstergeler

Ekonomik Büyüme

Mena Ülkeleri

Panel Veri Analizi

Sayı

Makale detayları

Yazarlar: Onur Yağış

Yayıncı: Bolu Abant Izzet Baysal University

Ana Başlıklar: Büyüme

Dergi: Ekonomik ve Sosyal Araştırmalar Dergisi Vol.20 Issue 1, pp.112-131

Belge Tipi: Makale

Yayın Tarihi: 6/2024

Belge Dili: Türkçe

Document ID (Org No.): 2001320559

pISSN: 1306-2174

Sayı

Yazarlar:

Onur Yağış

Yayıncı:

Bolu Abant Izzet Baysal University

Ana Başlıklar:

Büyüme

Dergi:

Ekonomik ve Sosyal Araştırmalar Dergisi Vol.20 Issue 1, pp.112-131

Belge Tipi:

Makale

Yayın Tarihi:

6/2024

Belge Dili:

Türkçe

Document ID (Org No.):

2001320559

pISSN:

1306-2174