Natural resources, financial development and structural transformation in Sub-Saharan Africa
نویسندگان
چکیده
Structural transformation is a crucial prerequisite for inclusive and sustainable development. In this context, study examines the influence of natural resource dependence on industrial structure in panel 30 Sub-Saharan (SSA) economies from 1995 to 2019, taking into account role financial The empirical analysis relies newly developed bias-corrected method-of-moments estimator. findings indicate that leads reduction output contribution manufacturing service industries. On other hand, development through institutions channel decreases value extractive industries while increasing industries, resulting net positive effect evolution away extractive-based industrialization. Considering complex multidimensional nature development, further suggest depth efficiency systems are critical areas deepening structural diversification sub-region. Additionally, reveal U-shaped relationship between per capita GDP transformation. These highlight inhibits SSA emphasize importance enhancing as part strategies break curse.
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ژورنال
عنوان ژورنال: Heliyon
سال: 2023
ISSN: ['2405-8440']
DOI: https://doi.org/10.1016/j.heliyon.2023.e19522