The Effects of Angola Oil Revenues and Institutional Quality on Economic and Social Structures

Year 2019, , 35 - 65, 30.06.2019

Gülşen Kaş

https://doi.org/10.25229/beta.542970

Abstract

In addition, by establishing an econometric model, the relationship between with the economic growth the oil production and prices as well as, the effect of oil which is shows institutional quality, on the rules of law were measured. Econometric model results, show that oil production and prices have positive effects short period on economic growth and rules of law. According to this result, it is necessary to create a long-term and feasible economic development program in order to increase the quality of life of the society by taking into consideration the natural resources and institutional quality of the countries that want to realize economic development.
According to the resource curse theory, most of the oil-rich countries do not achieve the sustainable economic growth and development. This situation, which is more prevalent in the countries which are high in corruption and inequality of income, also the low institutional quality, causes a situation that impoverishes the population and decreases the quality of life. In this study, of the oil producer Angola the effects on the economic and social structures of resource revenues and institutional quality are examined for the period of 2000-2018. According to the results of the research, it can be seen that institutional quality factor, in other words, governance ability of governments is more prominent than economic factors and institutional quality is showed the negative effects on the socio-economic development of Angola.

Keywords

Institutional Quality, Oil Revenues, Development, Quality of Life

Angola Petrol Gelirlerinin ve Kurumsal Kalitesinin, Ekonomik ve Sosyal Yapıları Üzerindeki Etkileri

Abstract

Ayrıca bir ekonometrik model kurularak, petrol üretimi ve fiyatları ile ekonomik büyüme arasındaki ilişkinin yanı sıra, petrolün, kurumsal kaliteyi gösteren hukukun kuralları üzerindeki etkisi ölçülmüştür. Ekonometrik model sonuçları, petrol üretimi ve fiyatlarının hem ekonomik büyüme hem de hukukun kuralları değişkenleri üzerinde kısa dönemde pozitif etkiye sahip olduğunu göstermektedir. Bu sonuca göre, ekonomik kalkınmayı gerçekleştirmek isteyen ülkelerin, doğal kaynaklarını ve kurumsal kalitesini de dikkate alarak, toplumun yaşam kalitesini yükseltecek şekilde uzun dönemli ve uygulanabilir bir ekonomik kalkınma programını oluşturması gerekliliği ortaya çıkmaktadır.
Kaynak laneti teorisine göre, özellikle petrol zengini ülkelerin birçoğunun sürdürülebilir bir ekonomik büyümeyi ve kalkınmayı gerçekleştiremediği görülmektedir. Kurumsal kalitesi düşük, altyapısı azgelişmiş, yolsuzluk ve gelir eşitsizliği yüksek ve kaynak dışı sektör gelişimi az olan ülkelerde daha çok görülen bu durum, halkı yoksullaştıran ve yaşam kalitesini düşüren bir duruma neden olmaktadır. Bu çalışmada petrol üreticisi Angola’nın, kaynak gelirlerinin ve kurumsal kalitesinin, ekonomik ve sosyal yapıları üzerindeki etkileri, 2000-2018 dönemi için incelenmektedir. Araştırma sonuçlarına göre kurumsal kalite faktörünün, diğer bir ifadeyle hükümetlerin yönetişim becerisinin, ekonomik faktörlerden daha ön plana çıktığı ve kurumsal kalitenin, Angola’nın sosyo-ekonomik gelişimi üzerinde olumsuz etkilere neden olduğunu göstermektedir.

Keywords

Institutional Quality, Oil Revenues, Development, Quality of Life

References

• African Development Fund, 2010, “Angola 2011-2015” Country Strategy Paper and 2010 Country Portfolio Performance Review, African Development Bank.
• Anyanwu, JC., Erhijakpor, AEO. 2013, Does Oil Wealth Affect Democracy in Africa? African Development Bank Group, Working Paper Series, No: 184, November, 2013, JEL: D72, L71, J15, O17, O55, Q32, ss.1-34
• Arezki, R. Ploeg, F. 2007, “Can the Natural Resource Curse Be Turned Into a Blessing? The Role of Trade Policies and Institutions”, IMF Working Paper, Middle East and Central Asia Department, 2007, ss.1-36
• Chêne, M. Hodess, R. Overview Of Corruption and Anti-Corruption in Angola, Transparency International, 2011 Chr. Michelsen Institute, Erişim Ekim 2018 https://knowledgehub.transparency.org/helpdesk/overview-of-corruptionand-anti-corruption-in-angola
• Papyrakis ve Gerlagh 2004, “The Resource Curse Hypothesis and Its Transmission Channels” Journal of Comparative Economics 32 (2004), ss. 181–193 IVM, Institute for Environmental Studies, Vrije Universiteit, Amsterdam, De Boelelaan 1087, 1081 HV Amsterdam, The Netherlands, Received 4 December 2002; revised 10 November 2003
• Gylfason, T. Zoega, G. 2001, “Natural Resources and Economic Growth: The Role of Investment” ss. 1-47 Revised June 2001 Gylfason, T. 2004, “Natural Resources and Economic Growth: From Dependence to Diversification” ss. 1-34Papyrakis ve Gerlagh 2004
• Hanson, 2008, “Angola’s Political and Economic Development”, Council on Foreign Relations, erişim tarihi: Nisan 2018, https://www.cfr.org/backgrounder/angolas-political-and-economicdevelopment
• Hammond, JL. 2010, The Resource Curse and Oil Revenues in Angola and Venezuela, Science & Society, Vol. 75, No. 3, July 2011, 348–378This is a revised version of a paper presented at the Global Studies Association, New York, June 2008, and at the Protest and Politics Workshop, City University of New York, May 2009.
• Human Development Indices and Indicators, 2018, s.1-110
• Mehlum, H. Moene, K. Torvik, R. 2005, Institutions and the resource curse ss. 1-27
• Mordor Intelligence December 2017, Agriculture in Angola, Major Crops and Cereals with Production, Trade, and Consumption Analysis, Trends and Forecasts, (2017 - 2022) Erişim Ekim 2018, https://www.mordorintelligence.com/industry-reports/agriculture-inangola
• OPEC, Organization of the Petroleum Exporting Countries, Monthly Oil Market Report – June 2018, ss.1-86, Helferstorferstrasse 17, A-1010 Vienna, Austria
• Richmond, C., Yackovlev, I., Yang, CS. 2014, “Investing Volatilite Oil Revenues In Capital Scarce Economies: An Application To Angola” Paper presented at the joint Res-Pr Conference on Macroeconomic Challenges Low-Income Countries, Hosted by the International Monetary Fund With support from the UK Department of International Development, (DFID) Washington, DC—January 30– 31, 2014
• Ross, M. (1999). The Political Economy of the Resource Curse. World Politics 51(2), 297-322. Cambridge University Press. Ross, M. (2003) How Does Mineral Wealth Affect the Poor? University of California, Los Angeles
• Sachs, J.D. Warner, A. 1997, “Natural Resources Abundance and Economic Growth”, Center for International Development and Harvard Institute for International Development, Harvard University Cambridge MA November, JEL Classification: O4, Q0, F43
• Sofuoğlu, E. Kızılkaya, O. Ay, A. 2017, International Conferance On Eurasian Economies 2017 Yolsuzluk ve Ekonomik Büyüme Arasındaki İlişki: Yeni Sanayileşmiş Ülkeler için Panel Veri Analizi
• Torvik, R. 2009, “Why do some resource-abundant countries succeed while others do not?”, Oxford Review of Economic Policy, JEL classification: O13, O43, Volume 25, Number 2, 2009, pp.241–256
• Uğurlu, E. 2009, “Durağanlık ve Birim Kök Sınamaları” Ders Notları, Aralık 2009, Kitapçık 1, ss. 1-20, doi: 10.13140/rg.2.1.3262.2561, Erişim Haziran 2018, İstanbul Aydın Üniversitesi Ekonomi ve Finans Bölümü, <https://www.researchgate.net/publication/281647245>
• Uğurlu, E. “Granger Nedensellik Sınaması” Method, uploaded by Erginbay Ugurlu on 09 January 2018, <https://www.researchgate.net/publication/320347431>
• Uğurlu, E. 2006, “Reel Döviz Kuru ve Ekonomik Büyüme: Türkiye” Yüksek Lisans Tezi, Yıldız Teknik Üniversitesi, İstanbul
• USDA, 2017, Foreign Agricultural Service Angola, Global Agricultural Information Network (GAIN report) ss.. 1-6
• African Development Bank Indicators 2018, Angola İstatistikleri, Erişim Haziran 2018 <http://dataportal.opendataforafrica.org/bbkawjf/afdb-socioeconomic-database-1960-2019?country=1000350-angola>
• Angola Piyasa zorlulukları: Erişim, Ekim 2018, <https://www.export.gov/article?id=Angola-Market-Challenges>
• Angola yabancı yatırımlar: Erişim, Ekim 2018 <https://www.export.gov/article?id=Angola-Openness-to-Foreign-Investment> Expat Arrivals, Education and Schools In Angola, Erişim Nisan 2018 <http://www.expatarrivals.com/angola/education-and-schools-inangola>
• Federal Reserve Bank Of St. Louis, Global price of WTI Crude, Erişim Mart 2018 <https://fred.stlouisfed.org/series/POILWTIUSDM>
• Freedom House, Freedom in the World 2018, Angola Profile, Erişim Ekim 2018 <https://freedomhouse.org/report/freedom-world/2018/angola>
• Global Economy, Angola Economic Freedom, Overall Index 2017, Erişim Ekim 2018 <https://www.theglobaleconomy.com/Angola/economic_freedom/>
• Global Economy, Civil Liberties, Country Rankings 2017, Erişim Ekim 2018 <https://www.theglobaleconomy.com/rankings/civil_liberties/>
• Global Economy, Control of Corruption - Country Rankings 2017, Erişim Ekim 2018 <https://www.theglobaleconomy.com/rankings/wb_corruption/>
• Global Economy, Government Effectiveness, Country Rankings 2016, Erişim Ekim 2018 <https://www.theglobaleconomy.com/rankings/wb_government_effective ness/>
• Global Economy, Political Rights, Country Rankings 2017, Erişim Ekim 2018 <https://www.theglobaleconomy.com/rankings/political_rights/>
• Global Economy, Political Stability, Country Rankings 2017, Erişim Ekim 2018 <https://www.theglobaleconomy.com/rankings/wb_political_stability/>
• Global Economy, Regulatory Quality, Country Rankings 2017, Erişim Ekim 2018 <https://www.theglobaleconomy.com/rankings/wb_regulatory_quality/>
• Global Economy, Rule of law, Country Rankings 2017, Erişim Ekim 2017 <https://www.theglobaleconomy.com/rankings/wb_ruleoflaw/>
• Global Economy, Voice and Accountability, Country Rankings 2017, Erişim Ekim 2018 <https://www.theglobaleconomy.com/rankings/wb_voice_accountability/>
• Heritage Foundation, Economic Freedom 2018 Angola, Erişim Ekim 2018 <https://www.heritage.org/index/country/angola>
• Heritage Foundation, Economic Freedom 2018, Ranking, Erişim Ekim 2018, <https://www.heritage.org/index/ranking>
• Open Data Africa, Angola 2015, BP Statistical Review of World Energy - 2015 Main Indicators, Erişim Mart 2018 <http://angola.opendataforafrica.org/BPWES2014/bp-statistical-review-of-world-energy-2015-main-indicators>
• Transparency International, Corruption Perceptions Index 2017, Ranking, Erişim Ekim 2018, <https://www.transparency.org/news/feature/corruption_perceptions_ind ex_2017>
• Transparency International, Corruption Perceptions Index 2017, Angola, Erişim Ekim 2018 <https://www.transparency.org/country/AGO>
• Transparency International 2018, <https://knowledgehub.transparency.org/helpdesk/overview-of-corruption-and-anti-corruption-in-angola>
• Using data to improve education in Angola, 31 May 2017, Erişim Ekim 2018 <https://www.unicef.org/stories/using-data-improve-education-angola>
• YCharts, Angola Crude Oil Production September 2018, Erişim Ekim 2018 <https://ycharts.com/indicators/angola_crude_oil_production>
• Yolsuzluk algıları endeksi sıralama: Erişim, Ekim 2018 <https://www.transparency.org/news/feature/corruption_perceptions_index_2017>
• World Bank, World Development Indicators, Angola Statistic 2018, Angola İstatistikleri, Erişim Haziran 2018 <https://data.worldbank.org/country/angola>
• World Factbook 2018, Angola Statistical, Erişim Mart 2018 <https://www.cia.gov/library/publications/the-worldfactbook/geos/ao.html>
• World Bank, Macro Poverty Outlook Indicators Angola, 16 October 2016, Erişim, Haziran 2018<pubdocs.worldbank.org/en/.../mpo-am16-ago.pdf>
• World Bank, World Development Indicators 2015 Erişim Şubat 2016 <https://openknowledge.worldbank.org/handle/10986/21634>
• World Bank 2017, “Understanding the Africa Country Policy and Institutional Assessmen (CPIA) Report for 2017” Erişim 10 Ekim 2018, <https://www.worldbank.org/en/region/afr/publication/in-five-chartsunderstanding-the-africa-country-policy-and-institutional-assessmentcpia-report-for-2017>