This paper, by focusing on oil resources, tries to investigate the relationship between natural resources abundance and economic growth in 8 OPEC selected countries during 1970- 2008. We used Dynamic Panel Data and Static Panel Data Model for this purpose and estimated
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This paper, by focusing on oil resources, tries to investigate the relationship between natural resources abundance and economic growth in 8 OPEC selected countries during 1970- 2008. We used Dynamic Panel Data and Static Panel Data Model for this purpose and estimated the relations by Generalized Method of Moments[1], Fixed Effects and Random Effects Estimator. The results represented that there is a negative relationship between oil resources abundance and economic growth in above mentioned countries.
[1]. GMM
* Associate Professor in Economics at University of Tarbiat Modares, Tehran, Iran (Corresponding Author), Email: kyavari@gmail.com
**PhD student in Economics at University of Tarbiat Modares, Tehran, Iran, Email: mahdieh_rezagholizadeh@yahoo.com
***PhD Student in Economics at University of Tarbiat Modares and Researcher at Statistical Research and Training Centre, Tehran, Iran, Email: majid_aghaei3@yahoo.com
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