Institutional foundations of export diversification patterns in oil-producing countries

Omgba, Luc Désiré

doi:10.1016/j.jce.2014.02.001

Cited by 29 publications

(25 citation statements)

References 17 publications

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“…The effect of the manufacturing sector is consistent with those of Bebczuk and Berrettoni (2006), though our result is statistically significant. The result on the effect of trade openness is contrary to the results obtained by many of the previous studies (Omgba, 2013;Kamuganga, 2012 andAgosin et al, 2011) who all found that trade openness had a positive and significant effect on export concentration, meaning that openness discourages diversification as opposed to the results in this study which showed that trade openness promotes diversifycation. However, Alaya (2012) in their study of 12 Middle East and North Africa countries found results consistent with those in this study, which showed that trade openness promotes export diversification.…”

Section: Presentation and Discussion Of Resultscontrasting

confidence: 99%

The export-diversifying effect of foreign direct investment in the CEMAC Region

Fonchamnyo¹

2015

J. Econ. Int. Finance

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This study aimed at investigating the export-diversifying effect of Foreign Direct Investment on the economies of the CEMAC sub region -notably, Cameroon, Central Africa Republic, Chad, Congo, Equatorial Guinea and Gabon. This was achieved empirically by using a Generalized Linear Model estimation technique implemented using the logit link function and the Gaussian distribution family to take care of the fractional nature of the concentration index. The results, both descriptive and empirical, showed that within the sub region the countries are heterogeneous in terms of foreign direct investment and diversification index. The most diversified economy in the region is Cameroon, followed by Central Africa Republic, Gabon, Congo, Equatorial Guinea, while Chad is the most concentrated with an index of 0.80. Empirically, the results clearly showed that in this region foreign direct investment, value added in the manufacturing sector and trade openness foster export diversification while rents from natural resource endowment and appreciation of the official exchange rate deter export diversification. The results also point to the fact that the export diversifying effect of foreign direct investment differs across economies in this region, with statistically significant effect obtained for Cameroon and Central Africa Republic, while an insignificant positive effect is observed for Congo. The results obtained are quite implicative, suggesting that policies should be put together to encourage foreign direct investment in countries such as Gabon, Chad and Cameroon that have witnessed very low levels of foreign direct investment in this region, while institutions and structures that are friendly for investors should be put in place to promote the manufacturing sector in the entire region.

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Section: Presentation and Discussion Of Resultscontrasting

confidence: 99%

The export-diversifying effect of foreign direct investment in the CEMAC Region

Fonchamnyo¹

2015

J. Econ. Int. Finance

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“…Our work builds upon Omgba (2014) who found that the aforementioned length of time positively affects export diversification patterns in oil-producing countries. This paper supports the finding that the most important point is not the length per se, but rather the institutional dynamics that this length represents.…”

Section: Introductionmentioning

confidence: 93%

“…Among current oil-producing countries, two types of extractive colonies can be distinguished: those who began to produce oil before independence, and those who did not produce oil under colonial rule and were instead primarily cash crop or plantation colonies, only becoming oil-producing after independence (Omgba, 2014). However, the development of cash crop colonies would require some unnecessary features in oil extraction colonies.…”

Section: Literature Review and Theoretical Argumentsmentioning

confidence: 99%

Why Do Some Oil-Producing Countries Succeed in Democracy While Others Fail?

Omgba

2015

World Development

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“…Component B focuses on studies on export diversification, which include Regolo (2013), Cirera et al (2015), Omgba (2014), Makhlouf et al (2015), Klinger and Lederman (2011) and Aditya and Acharyya (2015). For instance, Regolo (2013) focussed on export diversification among 102 trade partners between 1995 and 2007.…”

Section: Empirical Reviewmentioning

confidence: 99%

“…It was observed that the to resources, but by the innovative efforts and the strategic positioning of firms in the domestic market. Omgba (2014) examined the institutional foundations of export diversification patterns in oil-producing countries. In the study, the difference in years between when an oil producing country started oil production and when the country gained independence was measured.…”

Section: Empirical Reviewmentioning

confidence: 99%

Resource Endowment and Export Diversification: Implications for Growth in Nigeria

Charles

Mesagan

Saibu

2018

Studies in Business and Economics

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This paper examined the relationship between resource endowment and export diversification and its implication for economic growth in Nigeria based on data from 1981 to 2015. The result of the Granger causality test suggests that unidirectional causality runs from oil production to economic growth, while export diversification does not granger cause economic growth. From the error correction result, it was established that export diversification positively impacts growth from the last two periods, while in the current period, it has negative effect on growth. This means that the key issue with Nigerian economy might not be structural but institutional. That is, even if the economy is diversified, the expected result may still be a ruse without appropriate economic institutional reform. The study concludes that specialisation is preferred to diversification for Nigeria in the current circumstance. Hence, the key issue to sustain growth in Nigeria is not in the number of productive sectors but in their efficiency.

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Institutional foundations of export diversification patterns in oil-producing countries

Cited by 29 publications

References 17 publications

The export-diversifying effect of foreign direct investment in the CEMAC Region

The export-diversifying effect of foreign direct investment in the CEMAC Region

Why Do Some Oil-Producing Countries Succeed in Democracy While Others Fail?

Resource Endowment and Export Diversification: Implications for Growth in Nigeria

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