ISSN: 2222-6990
Open access
This study is an attempt to examine the relationship between diamond export and economic growth in Angola during the period of 2001-2018. Based on the estimation of the autoregressive model of distributed lags, the study concludes that diamond exports and economic growth are cointegrated. In addition, there is a positive one-way causality in diamond exports for long-term economic growth, which supports energy infrastructure investment policies. On the other hand, the absence of some reverse causality of economic growth for diamond production and exports, highlights due to Angola's heavy reliance on foreign demand for its oil to drive economic growth. Thus, in turn, policymakers must also consider diversifying the economy into other growing sectors in order to mitigate the impact of global economic shocks. The diamond is the second most important resource in Angola, so the government has been using it as a means of diversifying the economy in order to balance the less good economic situation that the country lives.
Arnim, V. R., Prabheesh, K. P. (2013), Rebalancing through expenditure and price changes. International Review of Applied Economics, 27(4), 531-556.
Boschini A. D., Pettersson J., and Roine, J. (2003), Resource curse or not: A question of appropriability SSE/EFI Working paper series in economics and finance, No 534.
Glasure, Y. U., Lee, A. R. (1998), Cointegration, error-correction and the relationship between GDP and energy: The case of South Korea and Singapore. Resource and Energy Economics, 20, 17-25.
Khalid, N., Pahi, M. H., & Ahmed, U. (2016). Loosing your best talent: Can leadership retain employees? The dilemma of the banking sector of Hyderabad Sindh, Pakistan: A mediation investigation. International Review of Management and Marketing, 6(3), 608-616.
Madrid, D., Ahmed, U., & Kumar, R. (2019). Examining the Impact of Classroom Environment on Entrepreneurship Education: Case of a Private University in Bahrain. Journal of Entrepreneurship Education, 22(1), 1-8.
Mehlum, H., Moene, K., and Torvik, R. (2006), Institutions and the resource curse The Economic journal 116 Blackwell Publishing.
Olsson O. (2006a), Conflict diamonds Journal of development economics.
Olsson O. (2006b), Diamonds are a rebel’s best friend The World Economy Blackwell Publishing.
Pesaran, H. M., Shin, Y., Smith, R. J. (1999), Pooled mean group estimation of dynamic heterogeneous panels. Journal of the American Statistical Association, 94(446), 621-634.
Pesaran, M. H., Shin, Y., Smith, R. J. (2001), Bounds testing approaches to the analysis of level relationships, Journal of Applied Econometrics, 16, 289-326.
Sala-i-Martin, X., and Subramanian, A. (2003), Addressing the natural resource curse – an illustration from Nigeria National Bureau of Economic Research Working paper 9804 Cambridge.
Toman, M. A., Jemelkova, B. (2003), Energy and economic development: An assessment of the state of knowledge. Energy Journal, 24(4), 93-112.
United Nations Development Program (2004), Conflits armés en Republique Democratique du Congo – Le rôle des facteurs economiques et leçons pour la reconstruction.
United States General Accounting Office (2002), International trade – Critical issues remain in deterring conflict diamond trade Report to congressional requesters GAO-02 – 678.
World Bank. (2017), World Bank World Development Indicators. Washington, DC: World Bank.
In-Text Citation: (Almeida, 2019)
To Cite this Article: Almeida, L. D. C. T. de. (2019). Diamond Export and Economic Growth in Angola. International Journal of Academic Research in Business and Social Sciences, 9(9), 926–935.
Copyright: © 2019 The Author(s)
Published by Human Resource Management Academic Research Society (www.hrmars.com)
This article is published under the Creative Commons Attribution (CC BY 4.0) license. Anyone may reproduce, distribute, translate and create derivative works of this article (for both commercial and non-commercial purposes), subject to full attribution to the original publication and authors. The full terms of this license may be seen at: http://creativecommons.org/licences/by/4.0/legalcode