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Dutch Disease Scare in Kazakhstan: Is It Real?

Abstract:

In this paper, we explore the evidence that would establish that Dutch disease is at work in, or poses a threat to, the Kazakh economy. Assessing the mechanism by which fluctuations in the price of oil can damage non-oil manufacturing--and thus long-term growth prospects in an economy that relies heavily on oil production--we find that non-oil manufacturing has so far been spared the perverse effects of oil price increases from 1996 to 2005. The real exchange rate in the open sector has appre...

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Journal:
Open Economies Review
Volume:
19
Publication date:
2008-01-01
URN:
uuid:4b9e4347-6c00-4655-8093-20e612bee909
Local pid:
oai:economics.ouls.ox.ac.uk:12770
Language:
English

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