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Riccardo Marchi Adani and Roberto Ricciuti
''The resource curse, rule of law and accountability in African countries: a dynamic panel analys''
( 2014, Vol. 34 No.3 )
We investigate the resource curse phenomenon using the African Governance Index that ranks African countries according to their governance quality. First, we allow countries to endogenously select in good- and bad-governance groups. Secondly, using an Arellano-Bond dynamic panel-data estimation, we analyze the effect on bad-governance countries of the endowment taking into account (i) that institutional quality today depends on institutional quality in recent years and (ii) that the resource endowment today will produce a lagged effect on institutional quality. Our findings confirm the existence of the resource curse problem.
Keywords: Resource curse, African economies, governance indicators, rule of law.
JEL: Q3 - Nonrenewable Resources and Conservation: General
O1 - Economic Development: General
Manuscript Received : Oct 21 2013 Manuscript Accepted : Aug 25 2014

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