Crowding-Out Effect of Natural Resources on Domestic Investment: The Importance of Information Communication and Technology (ICT) and Control of Corruption in the Middle East and Central Asia

被引：4

作者：

Abbas, Shujaat ^{[1
]}

Rehman, Faheem Ur ^{[2
]}

Khan, Shabeer ^{[3
]}

Rehman, Mohd Ziaur ^{[4
]}

Alonazi, Wadi B. ^{[5
]}

Noman, Abul Ala ^{[6
]}

机构：

[1] Ural Fed Univ UrFU, Grad Sch Econ & Management GSEM, Mira 19, Ekaterinburg 620002, Russia

[2] NingboTech Univ, Business Sch, Ningbo 315000, Peoples R China

[3] Sakarya Univ, Dept Islamic Econ & Finance, TR-54050 Serdivan, Turkey

[4] King Saud Univ, Coll Business Adm, Dept Finance, Riyadh 11587, Saudi Arabia

[5] King Saud Univ, Coll Business Adm, Hlth Adm Dept, Riyadh 11587, Saudi Arabia

[6] Ruhr Univ Bochum RUB, Fac Management & Econ, D-44801 Bochum, Germany

来源：

SUSTAINABILITY | 2022年 / 14卷 / 20期

关键词：

natural resources; crowding out; domestic investment; ICT; corruption; CS-ARDL; QR regression; FOREIGN DIRECT-INVESTMENT; LAGRANGE MULTIPLIER TEST; PRIVATE INVESTMENT; ECONOMIC-GROWTH; DETERMINANTS; REMITTANCES; AID;

D O I：

10.3390/su142013392

中图分类号：

X [环境科学、安全科学];

学科分类号：

08 ; 0830 ;

摘要：

Countries of the Middle East and Central Asia depend heavily on natural resources for their exports, income, and employment. This study is a preliminary investigation that explores the effect of natural resources on domestic investment in a sample of 12 highly resource-dependent countries in the Middle East and Central Asia from 2000 to 2019. The recently advanced cross-sectional dependent auto-regressive distributed lag (CS-ARDL) model and panel quantile regression are employed. The results validate the accelerator theory that an increase of the non-oil GDP growth rate has a robust positive impact on domestic investment, while natural resources crowd-out domestic investment. The long-run estimate of ICT reveals a significant positive impact, while corruption shows a significant negative effect. These findings urge sample resource-dependent countries to focus on developing ICT-based enterprises and control prevailing corruption levels. Moreover, adopting liberal trade policies can also enhance domestic investment opportunities.

引用

页数：16