Volume 2, Issue 3, June 2013, Page: 39-44
Oil Wealth; Meat in Norway, Poison in Nigeria: An Analysis of Human Capital as a Transmission Channel of Resource Curse
Adebiyi Oyeyemi Omodadepo, Department of Economics Accounting and Finance, College of Management Sciences, Bells University of Technology, Ota, Ogun State, Nigeria
Olomola Philip Akanni, Department of Economics, Faculty of Social Sciences, Obafemi Awolowo University, Ile-Ife, Osun State, Nigeria
Received: Jun. 12, 2013;       Published: Jun. 30, 2013
DOI: 10.11648/j.jwer.20130203.12      View  3039      Downloads  251
Abstract
The study examined the resource curse hypothesis on Nigeria, an oil rich but poor country and Norway, an oil rich and rich country. Human capital was the transmission channel explored in this study. The VAR was used to test annual data from 1970-2007. The result showed that oil wealth led to economic growth in both countries. Oil wealth led to improve human capital in Norway, but led to negative human capital in Nigeria. Our result is not consistent with our expectation yet human capital remains as a transmission channel to growth in both countries. Also, a long run relationship exists among oil wealth, human capital and economic growth for both countries.
Keywords
Resource Curse, Oil Wealth, Human Capital, Economic Growth
To cite this article
Adebiyi Oyeyemi Omodadepo, Olomola Philip Akanni, Oil Wealth; Meat in Norway, Poison in Nigeria: An Analysis of Human Capital as a Transmission Channel of Resource Curse, Journal of World Economic Research. Vol. 2, No. 3, 2013, pp. 39-44. doi: 10.11648/j.jwer.20130203.12
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