Role of politics

For more info about our services contact : help@bestpfe.com

Table of contents

Acknowledgement
Dedicace
List of tables
List of figures
Introduction
I. Theoretical review
Chapter introduction
I. 1- The resource curse hypothesis
I. 1-1. Economic explanation
I. 1-1-1.Dutch Disease
1-1-1-a. Gregory model
1-1-1-b. The core model: (Cordon and Neary 1982)
-1- The “Spending effect”
-2- The resource movement effect
1-1-1-c. The monetary effect: S.Edwards(1985)
I. 1-1-2. Procyclicality of fiscal policy
I. 1-1-3. Volatility of commodity prices
I. 1-2 Political and institutional view
I.1-2-1. Role of politics
a-Cognitive approach
b-Societal approach
c-Statist approach (state-centered explanation)
I.1-2-2 Institutional quality
I. 2- Oil price volatility issue
I. 2-1- The causes and effects of oil volatility
I. 2-1-1- The causes
a- Supply and demand for oil (market fundamentals)
b- Behavioral changes
I. 2-1-2 The effects of oil price volatility
a- Macroeconomic volatility
b- Volatility and growth
I. 2-2- Means to reduce volatility effects
I. 2-2-1 Fiscal policy
a- Oil funds
b- Fiscal rules and fiscal responsibility legislations
c- Budgetary oil price
I. 2-2-2 Role of financial development
I. 2-2-3- Role of economic diversification
Chapter conclusion
II. The empirical evidence
Chapter introduction
II. 1- Evidence on the traditional resource curse conundrum
II.2- Evidence on the volatility channel of the curse
II.3- Issues raised by empirical evidence
Chapter conclusion
III. The econometric study
Chapter introduction
III.1- Oil economics in Algeria
III.1-1- Evolution of the oil sector
III.1-2- Management of oil revenues
III.1-3- Economic growth and oil revenues
III.1-4- The political and institutional environment
III.2- Data and Methodology
III.2-1- Description of the data
III.2-2- Methodology
a- An overview of the OLS estimation method
b- Methodology used in the study
III.3- The empirical results
Chapter conclusion
Conclusion and recommendations
References