Arbeitspapier
Natural resources, demand for external finance and financial development
The paper contributes to the ongoing debate on the natural resource curse, which postulates a negative link between natural resource abundance and economic growth. It shows empirically that resource-rich countries appear to have a less developed financial system and investigates a potential mechanism behind this connection by applying insights from the finance and trade literature. It tests whether the resource sectors' lower demand for short-term external credit negatively affects financial development. This is done with cross-sectional and panel analysis, using an instrument for credit demand based on exogenous geographic determinants. The results, however, suggest that poor economic diversity rather than firms' credit demand drives the detrimental effect of resources on finance.
- Sprache
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Englisch
- Erschienen in
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Series: Diskussionsbeiträge ; No. 2014/33
- Klassifikation
-
Wirtschaft
Trade: General
General Financial Markets: General (includes Measurement and Data)
Economic Development: Agriculture; Natural Resources; Energy; Environment; Other Primary Products
Economic Development: Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
- Thema
-
financial development
external dependence
natural resource curse
international trade
gravity model
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Hattendorff, Christian
- Ereignis
-
Veröffentlichung
- (wer)
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Freie Universität Berlin, Fachbereich Wirtschaftswissenschaft
- (wo)
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Berlin
- (wann)
-
2014
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:45 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Hattendorff, Christian
- Freie Universität Berlin, Fachbereich Wirtschaftswissenschaft
Entstanden
- 2014