Туаев Тамерлан Игоревич
Resource Dependence and Macroeconomic Volatility
Macroeconomic instability is one of the most urgent and widely discussed economic issues. Scientists have paid much attention to consequences of volatility. However, there is relatively small amount of research dedicated to exploring determinants of instability. This paper investigates the impact of country’s resource dependence on its macroeconomic volatility. The hypothesis of positive relationship between these two variables was confirmed by analyzing panel data covering 42 countries during period between 1981 and 2013.