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Abstract(s)
Este trabalho estuda a relação entre as receitas provenientes do petróleo e o crescimento
económico de Angola, com o objetivo de analisar a existência e importância da
interdependência entre as duas variáveis. A abordagem teórica adotada combina
conceitos fundamentais de modelos de crescimento, tais como investimentos em capital
físico e capital humano, com a perspetiva da “maldição de recursos” geralmente usada
para caracterizar os países em que a abundância existente de recursos naturais não
implica abundância económica. A metodologia aplicada é a de uma análise empírica,
recorrendo ao método de mínimos quadrados e usando dados em séries temporais para
um período de quase quatro décadas, de 1982 a 2019. Os resultados das estimações
realizadas mostram que as receitas provenientes da exploração do petróleo – a principal
variável de interesse deste estudo – são um fator positivo e crucial para o crescimento
económico de Angola. Os resultados empíricos também indicam que aumentos nos
investimentos produtivos, bem como nos indicadores de democracia e capital humano,
podem trazer melhorias significativas para o desempenho da economia angolana. Por
fim, as conclusões retiradas dos resultados empíricos do estudo sugerem que, ao nível da
tomada de decisões políticas, incentivos direcionados para o aumento da eficiência do
setor petrolífero, e em particular para o aumento da eficiência do aproveitamento das
receitas do petróleo, poderiam potenciar o desempenho económico estratégico de
Angola.
This paper studies the relationship between oil revenues and economic growth in Angola, with the aim of analyzing the existence and importance of the interdependence between the two variables. The adopted theoretical approach combines fundamental concepts of growth models, such as investments in physical capital and human capital, with the perspective of the “resource curse” commonly used to characterize countries where the existing abundance of natural resources does not imply economic abundance. The methodology applied is that of an empirical analysis, using the method of ordinary least squares and using time series data for a period of almost four decades, from 1982 to 2019. The estimation results show that revenues from oil exploration – the main variable of interest in this study – are a positive and crucial factor for economic growth in Angola. The empirical results also indicate that increases in productive investments, as well as in indicators of democracy and human capital, can bring significant improvements to Angola’s economic performance. Finally, the conclusions drawn from this study’s empirical results suggest that, at the policy decision-making level, incentives aimed at increasing the efficiency of the oil sector, and in particular towards increasing the efficiency of the use of oil revenues, could enhance the strategic economic performance of Angola.
This paper studies the relationship between oil revenues and economic growth in Angola, with the aim of analyzing the existence and importance of the interdependence between the two variables. The adopted theoretical approach combines fundamental concepts of growth models, such as investments in physical capital and human capital, with the perspective of the “resource curse” commonly used to characterize countries where the existing abundance of natural resources does not imply economic abundance. The methodology applied is that of an empirical analysis, using the method of ordinary least squares and using time series data for a period of almost four decades, from 1982 to 2019. The estimation results show that revenues from oil exploration – the main variable of interest in this study – are a positive and crucial factor for economic growth in Angola. The empirical results also indicate that increases in productive investments, as well as in indicators of democracy and human capital, can bring significant improvements to Angola’s economic performance. Finally, the conclusions drawn from this study’s empirical results suggest that, at the policy decision-making level, incentives aimed at increasing the efficiency of the oil sector, and in particular towards increasing the efficiency of the use of oil revenues, could enhance the strategic economic performance of Angola.
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Keywords
Crescimento Económico Receitas do Petróleo Recursos Naturais