The Relationship Between Natural Resource Dependence, Financial Sector Development And Sectoral Growth: The Case Of Republic Of Yemen

Badeeb, Ramez Abubakr (2016) The Relationship Between Natural Resource Dependence, Financial Sector Development And Sectoral Growth: The Case Of Republic Of Yemen. PhD thesis, Universiti Sains Malaysia.

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    Abstract

    Kajian ini mengkaji secara empirikal kesan kebergantugan kepada sumber asli ke atas pembangunan sektor kewangan di Yaman, dan juga kesannya terhadap hubungan antara pembangunan kewangan dan pertumbuhan sektor. Dengan menggunakan data siri masa untuk tempoh tahun 1980-2012 dan kaedah Autoregressive Distributed Lag (ARDL), keputusan kajian ini menunjukkan bahawa kebergantungan kepada sumber asli menghalang tahap pembangunan sektor kewangan di Yaman. Di samping itu, kebergantungan kepada sumber asli juga melemahkan kecekapan sektor kewangan. Keupayaan sektor kewangan untuk menyalurkan tabungan kepada pelaburan menjadi lemah, di mana sumbangan sektor swasta dalam process pembangunan menjadi terhad. Kebergantugan kepada sumber asli di Yaman juga meninggalkan satu kesan yang nyata iaitu sektor kewangan gagal menunjukkan peranannya dalam pertumbuhan sektor benar (i.e., sektor pertanian dan sektor pembuatan). Akhir sekali, kebergantungan kepada sumber asli juga didapati mempengaruhi secara langsung ke atas pertumbuhan sektor pertanian dan pembuatan di mana ia menunjukkan bahawa sumpahan sumber asli berfungsi melalui mekanisma “Dutch disease”. This study aims to empirically examine the impact of natural resource dependence on the financial development in Yemen, as well as on the relationship between financial development and sectoral growth. Using time series data over the period 1980-2012, along with the Autoregressive Distributed Lag (ARDL) approach; the study finds that natural resource dependence hampers the level of financial sector development in Yemen. Additionally, the study reveals that the natural resource dependence weakens the relationship between financial development and growth. This effect is transmitted through the quantitative channel rather than the qualitative channel. Moreover, natural resource dependence has a significant negative impact on the growth of the agriculture and manufacturing sectors. These findings are a clear manifestation that the natural resource curse in Yemen works through the Dutch disease mechanism.

    Item Type: Thesis (PhD)
    Subjects: H Social Sciences > H Social Sciences (General) > H1-99 Social sciences (General)
    Divisions: Pusat Pengajian Sains Kemasyarakatan (School of Social Sciences) > Thesis
    Depositing User: Mr Noorazilan Noordin
    Date Deposited: 28 Feb 2017 14:41
    Last Modified: 11 Apr 2017 15:23
    URI: http://eprints.usm.my/id/eprint/32247

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