Oil dependency and happiness in net oil-exporting countries: is it a curse or blessing?

References

• Alexeev, M., & Conrad, R. (2009). The elusive curse of oil. Review of Economics and Statistics, 91(3), 586–598. https://doi.org/10.1162/rest.91.3.586
   Web of Science ®Google Scholar
• Ali, S., Murshed, S. M., & Papyrakis, E. (2020). Happiness and the resource curse. Journal of Happiness Studies, 21(2), 437–464. https://doi.org/10.1007/s10902-019-00080-3
   Web of Science ®Google Scholar
• Aljarallah, R. A. (2021). An assessment of the economic impact of natural resource rents in kingdom of Saudi Arabia. Resources Policy, 72, 102070. https://doi.org/10.1016/j.resourpol.2021.102070
   Web of Science ®Google Scholar
• Apergis, N., El-Montasser, G., Sekyere, E., Ajmi, A. N., & Gupta, R. (2014). Dutch disease effect of oil rents on agriculture value added in Middle East and North African (MENA) countries. Energy Economics, 45, 485–490. https://doi.org/10.1016/j.eneco.2014.07.025
   Web of Science ®Google Scholar
• Arezki, M. R., & Nabli, M. M. K. (2012). Natural resources, volatility, and inclusive growth: Perspectives from the Middle East and North Africa (Working Paper WP/12/111). International Monetary Fund.
   Google Scholar
• Arin, K. P., & Braunfels, E. (2018). The resource curse revisited: A Bayesian model averaging approach. Energy Economics, 70, 170–178. https://doi.org/10.1016/j.eneco.2017.12.033
   Web of Science ®Google Scholar
• Ayelazuno, J. (2014). Oil wealth and the well-being of the subaltern classes in Sub-Saharan Africa: A critical analysis of the resource curse in Ghana. Resources Policy, 40, 66–73. https://doi.org/10.1016/j.resourpol.2013.06.009
   Web of Science ®Google Scholar
• Badeeb, R. A., Lean, H. H., & Clark, J. (2017). The evolution of the natural resource curse thesis: A critical literature survey. Resources Policy, 51, 123–134. https://doi.org/10.1016/j.resourpol.2016.10.015
   Web of Science ®Google Scholar
• Beja, E. L. (2014). Income growth and happiness: Reassessment of the Easterlin Paradox. International Review of Economics, 61(4), 329–346. https://doi.org/10.1007/s12232-014-0211-y
   Google Scholar
• Belaid, F., Dagher, L., & Filis, G. (2021). Revisiting the resource curse in the MENA region. Resources Policy, 73, 102225. https://doi.org/10.1016/j.resourpol.2021.102225
   Web of Science ®Google Scholar
• Ben-Salha, O., Dachraoui, H., & Sebri, M. (2021). Natural resource rents and economic growth in the top resource-abundant countries: A PMG estimation. Resources Policy, 74, 101229. https://doi.org/10.1016/j.resourpol.2018.07.005
   Web of Science ®Google Scholar
• Blanchflower, D. G., Bell, D. N., Montagnoli, A., & Moro, M. (2014). The happiness trade-off between unemployment and inflation. Journal of Money, Credit and Banking, 46(S2), 117–141. https://doi.org/10.1111/jmcb.12154
   Google Scholar
• Brunnschweiler, C. N., & Bulte, E. H. (2008). The resource curse revisited and revised: A tale of paradoxes and red herrings. Journal of Environmental Economics and Management, 55(3), 248–264. https://doi.org/10.1016/j.jeem.2007.08.004
   Web of Science ®Google Scholar
• Chang, H. J., & Lebdioui, A. (2020). From fiscal stabilization to economic diversification: A developmental approach to managing resource revenues (No. wp-2020-108). World Institute for Development Economics Research (UNU-WIDER).
   Google Scholar
• Chudik, A., & Pesaran, M. H. (2015a). Large panel data models with cross-sectional dependence: A survey. In B. H. Baltagi (Ed.), The Oxford handbook of panel data (pp. 2–45). Oxford University Press.
   Google Scholar
• Chudik, A., & Pesaran, M. H. (2015b). Common correlated effects estimation of heterogeneous dynamic panel data models with weakly exogenous regressors. Journal of Econometrics, 188(2), 393–420. https://doi.org/10.1016/j.jeconom.2015.03.007
   Web of Science ®Google Scholar
• Clark, A. E., Frijters, P., & Shields, M. A. (2008). Relative income, happiness, and utility: An explanation for the Easterlin paradox and other puzzles. Journal of Economic Literature, 46(1), 95–144. https://doi.org/10.1257/jel.46.1.95
   Web of Science ®Google Scholar
• Corden, W. M., & Neary, J. P. (1982). Booming sector and de-industrialisation in a small open economy. The Economic Journal, 92(368), 825–848. https://doi.org/10.2307/2232670
   Web of Science ®Google Scholar
• Cust, J., Mihalyi, D., & Rivera-Ballesteros, A. (2021). Giant oil and gas field discoveries 2018. In Harvard dataverse, V1. https://doi.org/10.7910/DVN/MEH5CS
   Google Scholar
• Deaton, A. (2008). Income, health, and well-being around the World: Evidence from the Gallup World Poll. Journal of Economic Perspectives, 22(2), 53–72. https://doi.org/10.1257/jep.22.2.53
   PubMed Web of Science ®Google Scholar
• Easterlin, R. A. (2001). Income and happiness: Towards a unified theory. The Economic Journal, 111(473), 465–484. https://doi.org/10.1111/1468-0297.00646
   Web of Science ®Google Scholar
• Easterlin, R. A., Morgan, R., Switek, M., & Wang, F. (2012). China’s life satisfaction, 1990–2010. Proceedings of the National Academy of Sciences, 109(25), 9775–9780. https://doi.org/10.1073/pnas.1205672109
   PubMed Web of Science ®Google Scholar
• Fenton Villar, P. (2022). Is there a Mineral-Induced ‘Economic Euphoria’? Evidence from Latin America. Journal of Happiness Studies, 23(4), 1403–1430. https://doi.org/10.1007/s10902-021-00455-5
   Web of Science ®Google Scholar
• Frey, B. S., & Stutzer, A. (2002). What can economists learn from happiness research? Journal of Economic Literature, 40(2), 402–435. https://doi.org/10.1257/jel.40.2.402
   Web of Science ®Google Scholar
• Gilberthorpe, E., & Papyrakis, E. (2015). The extractive industries and development: The resource curse at the micro, meso and macro levels. The Extractive Industries and Society, 2(2), 381–390. https://doi.org/10.1016/j.exis.2015.02.008
   Google Scholar
• Haini, H., Loon, P. W., & Li, P. L. (2023). Can export diversification promote export upgrading? Evidence from an oil-dependent economy. Resources Policy, 80, 103292. https://doi.org/10.1016/j.resourpol.2022.103292
   Web of Science ®Google Scholar
• Haseeb, M., Kot, S., Hussain, H. I., & Kamarudin, F. (2021). The natural resources curse-economic growth hypotheses: Quantile–on–quantile evidence from top Asian economies. Journal of Cleaner Production, 279, 123596. https://doi.org/10.1016/j.jclepro.2020.123596
   Web of Science ®Google Scholar
• Helliwell, J. F., Huang, H., Grover, S., & Wang, S. (2018). Empirical linkages between good governance and national well-being. Journal of Comparative Economics, 46(4), 1332–1346. https://doi.org/10.1016/j.jce.2018.01.004
   Web of Science ®Google Scholar
• Helliwell, J. F., Layard, R., & Sachs, J. (Eds.). (2013). World happiness report 2013. UN Sustainable Development Solutions Network.
   Google Scholar
• Henri, P. A. O. (2019). Natural resources curse: A reality in Africa. Resources Policy, 63, 101406. https://doi.org/10.1016/j.resourpol.2019.101406
   Web of Science ®Google Scholar
• Hirschauer, N., Lehberger, M., & Musshoff, O. (2015). Happiness and utility in economic thought—Or: What can we learn from happiness research for public policy analysis and public policy making? Social Indicators Research, 121(3), 647–674. https://doi.org/10.1007/s11205-014-0654-2
   Web of Science ®Google Scholar
• James, A. (2015). The resource curse: A statistical mirage? Journal of Development Economics, 114, 55–63. https://doi.org/10.1016/j.jdeveco.2014.10.006
   Web of Science ®Google Scholar
• Killingsworth, M. A. (2021). Experienced well-being rises with income, even above $75,000 per year. Proceedings of the National Academy of Sciences, 118(4), e2016976118. https://doi.org/10.1073/pnas.2016976118
   PubMed Web of Science ®Google Scholar
• Kim, D. H., & Lin, S. C. (2017). Natural resources and economic development: New panel evidence. Environmental and Resource Economics, 66(2), 363–391. https://doi.org/10.1007/s10640-015-9954-5
   Web of Science ®Google Scholar
• Knight, J., & Gunatilaka, R. (2011). Does economic growth raise happiness in China? Oxford Development Studies, 39(01), 1–24. https://doi.org/10.1080/13600818.2010.551006
   Google Scholar
• Layard, R. (2005). Happiness: Lessons from a new science. Penguin Press.
   Google Scholar
• Lederman, D., & Maloney, W. F. (Eds.). (2007). Natural resources, neither curse nor destiny. World Bank.
   Google Scholar
• Leigh, A., & Wolfers, J. (2006). Happiness and the human development index: Australia is not a paradox. The Australian Economic Review, 39(2), 176–184. https://doi.org/10.1111/j.1467-8462.2006.00408.x
   Web of Science ®Google Scholar
• Mien, E., & Goujon, M. (2022). 40 years of Dutch disease literature: Lessons for developing countries. Comparative Economic Studies, 64(3), 351–383. https://doi.org/10.1057/s41294-021-00177-w
   PubMed Web of Science ®Google Scholar
• Mignamissi, D., & Kuete, Y. F. M. (2021). Resource rents and happiness on a global perspective: The resource curse revisited. Resources Policy, 71, 101994. https://doi.org/10.1016/j.resourpol.2021.101994
   Web of Science ®Google Scholar
• Nikolaev, B., & Rusakov, P. (2016). Education and happiness: An alternative hypothesis. Applied Economics Letters, 23(12), 827–830. https://doi.org/10.1080/13504851.2015.1111982
   Web of Science ®Google Scholar
• Nugent, J. B., & Switek, M. (2013). Oil prices and life satisfaction: Asymmetries between oil exporting and oil importing countries. Applied Economics, 45(33), 4603–4628. https://doi.org/10.1080/00036846.2013.795281
   Web of Science ®Google Scholar
• Papyrakis, E., Rieger, M., & Gilberthorpe, E. (2017). Corruption and the extractive industries transparency initiative. The Journal of Development Studies, 53(2), 295–309. https://doi.org/10.1080/00220388.2016.1160065
   Web of Science ®Google Scholar
• Pesaran, M. H. (2021). General diagnostic tests for cross-sectional dependence in panels. Empirical Economics, 60(1), 13–50. https://doi.org/10.1007/s00181-020-01875-7
   Web of Science ®Google Scholar
• Roodman, D. (2009). A note on the theme of too many instruments. Oxford Bulletin of Economics and Statistics, 71(1), 135–158. https://doi.org/10.1111/j.1468-0084.2008.00542.x
   Web of Science ®Google Scholar
• Sachs, J. D., & Warner, A. M. (1995). Natural resources abundance and economic growth (Working Paper 5398). National Bureau for Economic Research (NBER).
   Google Scholar
• Sachs, J. D., & Warner, A. M. (1997). Sources of slow growth in African economies. Journal of African Economies, 6(3), 335–376. https://doi.org/10.1093/oxfordjournals.jae.a020932
   Web of Science ®Google Scholar
• Slesman, L. (2022). The elusive curse of natural resources on happiness. Resources Policy, 79, 103112. https://doi.org/10.1016/j.resourpol.2022.103112
   Web of Science ®Google Scholar
• Slesman, L., Baharumshah, A. Z., & Ra’ees, W. (2015). Institutional infrastructure and economic growth in member countries of the Organization of Islamic Cooperation (OIC). Economic Modelling, 51, 214–226. https://doi.org/10.1016/j.econmod.2015.08.008
   Web of Science ®Google Scholar
• Stevenson, B., & Wolfers, J. (2008). Economic growth and subjective well-being: Reassessing the easterlin paradox. Brookings Papers on Economic Activity, 2008(1), 1–87. https://doi.org/10.1353/eca.0.0001
   Google Scholar
• Stevenson, B., & Wolfers, J. (2013). Subjective well-being and income: Is there any evidence of satiation? American Economic Review, 103(3), 598–604. https://doi.org/10.1257/aer.103.3.598
   Web of Science ®Google Scholar
• Thombs, R. P. (2022). A guide to analyzing large N, large T panel data. Socius: Sociological Research for a Dynamic World, 8, 237802312211176. https://doi.org/10.1177/23780231221117645
   Google Scholar
• Toews, G. (2015). Inflated expectations and natural resource booms: Evidence from Kazakhstan. OxCarre Research Paper, 109, 1–36.
   Google Scholar
• Vaskovskyi, A. (2020). Natural resources and quality of life: International evidence. The Singapore Economic Review, 1–14. https://doi.org/10.1142/S0217590820500605
   Google Scholar
• Veenhoven, R. (2012). Happiness: Also known as “life satisfaction” and “subjective well-being”. In K. C. Land, A. C. Michalos, & M. J. Sirgy (Eds.), Handbook of social indicators and quality of life research (pp. 63–77). Springer.
   Google Scholar
• Zhang, X., Zhang, X., & Chen, X. (2017). Happiness in the air: How does a dirty sky affect mental health and subjective well-being? Journal of Environmental Economics and Management, 85, 81–94. https://doi.org/10.1016/j.jeem.2017.04.001
   PubMed Web of Science ®Google Scholar