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Oil Wealth; Meat in Norway, Poison in Nigeria: An Analysis of Human Capital as a Transmission Channel of Resource Curse

Received: 12 June 2013     Published: 30 June 2013
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Abstract

The study examined the resource curse hypothesis on Nigeria, an oil rich but poor country and Norway, an oil rich and rich country. Human capital was the transmission channel explored in this study. The VAR was used to test annual data from 1970-2007. The result showed that oil wealth led to economic growth in both countries. Oil wealth led to improve human capital in Norway, but led to negative human capital in Nigeria. Our result is not consistent with our expectation yet human capital remains as a transmission channel to growth in both countries. Also, a long run relationship exists among oil wealth, human capital and economic growth for both countries.

Published in Journal of World Economic Research (Volume 2, Issue 3)
DOI 10.11648/j.jwer.20130203.12
Page(s) 39-44
Creative Commons

This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.

Copyright

Copyright © The Author(s), 2013. Published by Science Publishing Group

Keywords

Resource Curse, Oil Wealth, Human Capital, Economic Growth

References
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[6] Gylfason, T. and Zoega, G. (2001). "Natural Resources and Economic Growth: The Role of Investment"
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[8] Manning, A. (2004). "The Resource Curse Revisited". Department of Economics, Illinois Wesleyan University.
[9] Marktanner, M. and Nasr, J. (2006), "From Rentier State and Resource Curse to even Worse". American University ofBeirute Institute of Financial Economics, (3, 2006).
[10] Maloney, W. (2002), "Innovation and Growth in Resource Rich Countries," Central Bank of Chile Working Papers, (148 February), Central bank of Chile.
[11] Mehium, H., Moene, K. and Torvik, R. (2002), "Institution and Resource curse," Department of Economics, University of Oslo.
[12] Mehium, H., Moene, K. and Torvik, R. (2008), "Mineral Rents and Social Development in Norway" Department of Economics, Norwegian University of Science and Technology.
[13] National Planning Commission (2007), "Nigeria Millennium Development Goals, 2006 Report".
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[20] Oyefusi, A. (2007). "Oil Dependence and Civil Conflict in Nigeria" CSAE WPS/2007-09
[21] Papyrakis, E. and Gerlagh, R. (2003), "The Resource Curse Hypothesis and its Transmission Channels" Journal of Comparative Economics, 32(2004) 181-193.
[22] Sachs, I. and Warner, A. (1995), "Natural Resource Abundance and Economic Growth," National Bureau of Economic Research, 5398, Cambridge, M.A.
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Cite This Article
  • APA Style

    Adebiyi Oyeyemi Omodadepo, Olomola Philip Akanni. (2013). Oil Wealth; Meat in Norway, Poison in Nigeria: An Analysis of Human Capital as a Transmission Channel of Resource Curse. Journal of World Economic Research, 2(3), 39-44. https://doi.org/10.11648/j.jwer.20130203.12

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    ACS Style

    Adebiyi Oyeyemi Omodadepo; Olomola Philip Akanni. Oil Wealth; Meat in Norway, Poison in Nigeria: An Analysis of Human Capital as a Transmission Channel of Resource Curse. J. World Econ. Res. 2013, 2(3), 39-44. doi: 10.11648/j.jwer.20130203.12

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    AMA Style

    Adebiyi Oyeyemi Omodadepo, Olomola Philip Akanni. Oil Wealth; Meat in Norway, Poison in Nigeria: An Analysis of Human Capital as a Transmission Channel of Resource Curse. J World Econ Res. 2013;2(3):39-44. doi: 10.11648/j.jwer.20130203.12

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  • @article{10.11648/j.jwer.20130203.12,
      author = {Adebiyi Oyeyemi Omodadepo and Olomola Philip Akanni},
      title = {Oil Wealth; Meat in Norway, Poison in Nigeria: An Analysis of Human Capital as a Transmission Channel of Resource Curse},
      journal = {Journal of World Economic Research},
      volume = {2},
      number = {3},
      pages = {39-44},
      doi = {10.11648/j.jwer.20130203.12},
      url = {https://doi.org/10.11648/j.jwer.20130203.12},
      eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jwer.20130203.12},
      abstract = {The study examined the resource curse hypothesis on Nigeria, an oil rich but poor country and Norway, an oil rich and rich country. Human capital was the transmission channel explored in this study. The VAR was used to test annual data from 1970-2007. The result showed that oil wealth led to economic growth in both countries. Oil wealth led to improve human capital in Norway, but led to negative human capital in Nigeria. Our result is not consistent with our expectation yet human capital remains as a transmission channel to growth in both countries. Also, a long run relationship exists among oil wealth, human capital and economic growth for both countries.},
     year = {2013}
    }
    

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    AB  - The study examined the resource curse hypothesis on Nigeria, an oil rich but poor country and Norway, an oil rich and rich country. Human capital was the transmission channel explored in this study. The VAR was used to test annual data from 1970-2007. The result showed that oil wealth led to economic growth in both countries. Oil wealth led to improve human capital in Norway, but led to negative human capital in Nigeria. Our result is not consistent with our expectation yet human capital remains as a transmission channel to growth in both countries. Also, a long run relationship exists among oil wealth, human capital and economic growth for both countries.
    VL  - 2
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Author Information
  • Department of Economics Accounting and Finance, College of Management Sciences, Bells University of Technology, Ota, Ogun State, Nigeria

  • Department of Economics, Faculty of Social Sciences, Obafemi Awolowo University, Ile-Ife, Osun State, Nigeria

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