NDLI: What Do We Know About Economic Diversification in Oil-Producing Countries?

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What Do We Know About Economic Diversification in Oil-Producing Countries?

Content Provider	Scilit
Author	Ross, Michael L.
Copyright Year	2017
Description	Journal: SSRN Electronic Journal Countries dependent on oil and mineral exports are often advised to diversify their economies, yet surprisingly little is known about how this can be done. This paper reviews the recent literature on diversification in resource-dependent states and suggests it has been constrained by missing and inconsistent data, and a reliance on diversification measures that are relatively uninformative for resource-rich states. It then uses an improved measure of export concentration from Papageorgiou and Spatafora to document three empirical patterns over the last half-century: the divergence between oil-producing states and non-oil states; the reconcentration of exports in most oil and mineral producing states since 1998, caused by the boom in commodity prices; and the heterogeneity of the oil producers, marked by greater diversification in Latin America and Southeast Asia, mixed performances in the Middle East, and greater concentration in Africa and the former Soviet Union. While change in the former Soviet Union was spurred by large new discoveries, the diversification failure of all oil-producing states in both North and sub-Saharan Africa is striking, and stands in contrast to the region’s non-oil producers. The paper concludes with a research agenda for deepening our understanding of this issue.
Related Links	https://escholarship.org/content/qt69p5494g/qt69p5494g.pdf?t=p17bh3 https://papers.ssrn.com/sol3/Delivery.cfm?abstractid=3048585
ISSN	10914358
e-ISSN	15565068
DOI	10.2139/ssrn.3048585
Journal	SSRN Electronic Journal
Language	English
Publisher	Elsevier BV
Publisher Date	2017-01-24
Access Restriction	Open
Subject Keyword	Journal: SSRN Electronic Journal Development Studies
Content Type	Text
Resource Type	Article
Subject	Public Health, Environmental and Occupational Health Psychiatry and Mental Health

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