Resource Boom, Industrial Structure and Economic Growth in a DSGE Model
- DOI
- 10.2991/ssehr-16.2016.29How to use a DOI?
- Keywords
- Dutch Disease, Industrial Structure, DSGE, R&D arbitrage
- Abstract
Literature of "Dutch disease" concerns about the de-industrialization induced by the resource boom. But the core model of "Dutch disease" is based on the experiences of developed countries, such as Holland and Australia. We extend the literature of "resource curse" by proposing that the initial industrial structure is an essential factor for an economy to experience a blessing or curse with a resource boom. We also draw a clear distinction between resource booms and price booms, and restrict our study on the resource boom of point source natural resources. We setup a multi-sector model with R&D arbitrage to explore a structure-upgrading transmission channel of a resource boom to illustrate that the change of industrial structures incurred by resource boom may bring "industrial bonus".
- Copyright
- © 2016, the Authors. Published by Atlantis Press.
- Open Access
- This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).
Cite this article
TY - CONF AU - Bin Liang AU - Yiwei Lian AU - Xiaoyi Ji PY - 2016/07 DA - 2016/07 TI - Resource Boom, Industrial Structure and Economic Growth in a DSGE Model BT - Proceedings of 2016 5th International Conference on Social Science, Education and Humanities Research PB - Atlantis Press SP - 134 EP - 141 SN - 2352-5398 UR - https://doi.org/10.2991/ssehr-16.2016.29 DO - 10.2991/ssehr-16.2016.29 ID - Liang2016/07 ER -