The Dutch Disease in Angola: An Empirical Analysis
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... Mehr ...
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| Dokumenttyp: | Artikel |
| Erscheinungsdatum: | 2023 |
| Reihe/Periodikum: | Engineering Proceedings, Vol 39, Iss 40, p 40 (2023) |
| Verlag/Hrsg.: |
MDPI AG
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| Schlagwörter: | resource curse / spending effect / real exchange rate / cointegration / Engineering machinery / tools / and implements / TA213-215 |
| Sprache: | Englisch |
| Permalink: | https://search.fid-benelux.de/Record/base-28987103 |
| Datenquelle: | BASE; Originalkatalog |
| Powered By: | BASE |
| Link(s) : | https://doi.org/10.3390/engproc2023039040 |
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.