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Abstract We examine how natural resource dependence and institutional quality influence economic and social development in 27 transition economies from 1996 to 2023. Using a System-GMM estimator with Difference-GMM robustness checks, we estimate GDP per capita growth, education, infant mortality, and life expectancy. We find that investment consistently promotes development, while institutional quality matters mainly through indirect and longer-term channels. Development outcomes depend on the type of resources and institutional context, with no general resource curse across transition economies. Overall, our results emphasize the need to strengthen governance and pursue broad-based economic diversification in resource-dependent transition economies.
*enkhamgalan_d@num.edu.mn Abstract. We examined the impact of different natural resources on various development indicators, including economic growth, institutional quality, human and physical capital, and social welfare. This study specifically focused on Mongolia and other countries that transitioned from central planning to market economies in the early 1990s. Our findings reveal that between 1996 and 2023, economic growth was positively impacted by fuel exports, while mineral exports had a negative effect. Additionally, the export of fuels and minerals had negative effects on life expectancy but positive effects on infant mortality. This suggests that fuel and mineral resources may not benefit social welfare. Furthermore, we investigated how the quality of institutions influences these development indicators. Countries rich in natural resources constitute both growth losers and growth winners. More natural resources push aggregate income down, when institutions are grabber friendly, while resources raise income, when institutions are producer friendly (Mehlum and others, 2006). Our findings show that poor institutional quality, particularly related to natural resource exports such as fuels and minerals, has adversely impacted the long-term development performance of Mongolia and other resource-rich nations.
Abstract. We examined the impact of different natural resources on various development indicators, including economic growth, institutional quality, human and physical capital, and social welfare. This study specifically focused on Mongolia and other countries that transitioned from central planning to market economies in the early 1990s. Our findings reveal that between 1996 and 2023, economic growth was positively impacted by fuel exports, while mineral exports had a negative effect. Additionally, the export of fuels and minerals had negative effects on life expectancy but positive effects on infant mortality. This suggests that fuel and mineral resources may not benefit social welfare. Furthermore, we investigated how the quality of institutions influences these development indicators. Countries rich in natural resources constitute both growth losers and growth winners. More natural resources push aggregate income down, when institutions are grabber friendly, while resources raise income, when institutions are producer friendly (Mehlum and others, 2006). Our findings show that poor institutional quality, particularly related to natural resource exports such as fuels and minerals, has adversely impacted the long-term development performance of Mongolia and other resource-rich nations.
We investigated the impact of different natural resources on the economic growth and social indicators of Central Asian countries and Mongolia. Our analysis, which utilized various cross-section regression models, did not reveal directly any evidence of a negative effect of natural resources on the economic growth of Central Asian economies and Mongolia from 1996 to 2021. This paper illustrated the importance of institutional quality in explaining the differences in economic performance among countries that transitioned from central planning to market economies Furthermore, our findings indicated a negative association between fuel and ores and metals exports in GDP exports and the institutions in Central Asian economies. This negative relationship could potentially have a detrimental effect on long-term economic growth and development.
1996-2022 онуудад Монголын эдийн засгийн өсөлт, нэг хүнд ноогдох бодит ДНБ, байгалийн баялаг ба авилгын судалгааг 1990-1992 онуудад бидэнтэй хамт шилжилт хийсэн орнуудтай харьцуулан судалсан. Шилжилтийн эдийн засагтай орнуудын эдийн засгийн өсөлтөд газрын тос эерэг харин эрдэс бүтээгдэхүүний экспорт сөрөг хамааралтай гарч байна. ДНБ-нд ноогдох газрын тос, эрдэс бүтээгдэхүүн өндөртэй шилжилтийн эдийн засагтай орнуудад авилгал нь их байна. Үүний дотор Монголын авилгал шилжилтийн эдийн засагтай орнуудын дунджаас их байна. Монгол улсын эдийн засгийн өсөлт нь газрын тос, ашигт малтмалаар баян орнуудын нэгэн адил авилгалаас болж буурах магадлалтай байна.
Abstract We examine that natural resources affect negatively growth in the transition countries with weak institutions. In generally, the impact of natural resource is ambiguously for economic growth using OLS and 2SLS. We estimate positive association of primary and fuel exports with economic growth between 1996 and 2018. It appears that economic and political institutions have had some detrimental effect on economic growth in post-communist countries compares to other countries.
Abstract We examine the effect of different natural resources on growth and social some indicators in transition countries. We do not find any evidence of negative effect of natural resource on economic growth in transition economies over the period 2000-2020. In especially, a significant positive effect of fuel exports in GDP exists to other natural resource abundant countries in transition economies. However, we estimate negative and insignificant association of the fuel and ores exports with institution in transition economies. This negative effect may be the adverse impact of economic growth in long run. Our results reaffirm those of Brunchweiler (2009a, 2009b) and Aleexev et al (2010), as natural resource abundance promotes economic growth but reduces institutional quality for transition economies.
