How can we differentiate resource-based economies (or oil rents countries) from other countries. For example, should I include all countries in the World Bank list of natural resources rents countries? Some countries like Australia has 4.8% of GDP only.
Is there a popular article to adopt in this context? For example, Hoskisson et al., (2000) list of countries is widely used for the list of emerging economies.
Many thanks
It's quite specifik subject Mr. Ghura, so you should check the related literature.. I can easily recommend you science direct or other data bases..
Thank you Mr. Ibrahim. I have already ckecked and the literature do not have accurate sample.
Oil exports as a percentage of total exports, or and oil production as % to GDP compring to other sectors (industry for example).
Thanks Mahmoud, but do we consider 5% of oil exports to total GDP as a resource based economy? What is the defined perecentage? For example, in World economic forum report Global Competitivness Index, they consider countries with 70% and above of oil exports as a resource based country.
I think you should determine a percentage basing on literature and purpose of your research. What I mentioned before should be compared to industrial or agriculture share in exports. It can be resource based economy if it essentially relies on oil exports revenues. For example, if literature mentioned Dutch disease case as a result of oil exports, it should be resource based economy. Hope it helps.
Thank you Mahmoud for your feedback. I think it is more accurate to use natural resources rents from the World Bank because it measures which economies rely most heavily on natural resources revenues such as oil and gas. For example, Singapore fuel exports as % of total merchandise is more than 10%. However, its economy dependence on oil rents is close to zero.
- Badges
- Science topic
- Similar topics
- Economics