Skip to main content
SpringerLink
Log in

Dutch Disease in Post-Soviet Oil Exporting Countries: Impact of Real Appreciation on De-industrialization

  • Original Article
  • Published:
East Asian Community Review

Abstract

With the recent economic slowdown, there has been a growing concern that de-industrialization might result from resource abundance in the post-Soviet region. By using a comparative panel analysis of three countries of the post-Soviet region and 14 countries of selected oil exporters, this paper investigates whether real appreciation for the oil exporters contributed to de-industrialization in the region. We fail to find any evidence to support the claim that real appreciation caused de-industrialization in the region.

This is a preview of subscription content, log in via an institution to check access.

Access this article

Log in via an institution

Price excludes VAT (USA)
Tax calculation will be finalised during checkout.

Instant access to the full article PDF.

Institutional subscriptions

Fig. 1
Fig. 2

Source: World Bank and UNSTATS

Fig. 3

Source: World Bank

Fig. 4

Source: IMF and World Bank

Fig. 5
Fig. 6

Source: OECD

Fig. 7

Source: World Bank

Fig. 8

Source: IMF and World Bank

Similar content being viewed by others

Notes

  1. Developing and transition economies of which from 2013 to 2018 the average share of fuels exports (SITC 3) was

    • greater than 50% of their total exports (SITC 0-9) and

    • greater than 0.1% of the world total fuels exports (SITC3).

References

  • Apergis, N. 2014. Dutch Disease Effect of Oil Rents on Agriculture Value Added in Middle East and North African (MENA) Countries. Energy Economics 45: 488–489.

    Article  Google Scholar 

  • Asea, P., and W.M. Corden. 1994. The Balassa–Samuelson Model: An Overview*. International Economics 2: 191–200.

    Google Scholar 

  • Barisitz, S., and S.E. Ollus. 2007. The Russian Nonfuel Sector: Signs of the Dutch Disease? Evidence from EU-25 Import Competition. Focus on European Economic Integration 1: 157–164.

    Google Scholar 

  • Corden, W.M. 1984. Booming Sector and Dutch Disease Economics: Survey and Consolidation. Oxford Economic Papers 36: 359–380.

    Article  Google Scholar 

  • Corden, W.M., and J.P. Neary. 1982. Booming Sector and De-Industrialization in a Small Open Economy. The Economic Journal 92: 826–842.

    Article  Google Scholar 

  • Dobrynskaya, V., and E. Turkisch. 2010. Economic Diversification and Dutch Disease in Russia. Post-Communist Economies 22: 298–300.

    Article  Google Scholar 

  • Dülger, F. 2013. Is Russia Suffering from Dutch Disease? Cointegration with structural break. Resources Policy 38: 610–611.

    Article  Google Scholar 

  • E’gert, B. 2012. Dutch Disease in the Post-Soviet Countries of Central and South-West Asia: How Contagious is it? Journal of Asian economics 23: 580–583.

    Google Scholar 

  • Fu, X., and V. Balasubranmanyram. 2005. Exports, Foreign Direct Investment and Employment: The Case of China. The World Economy 28: 607–625.

    Article  Google Scholar 

  • Hasanov, F. 2013. Dutch Disease and the Azerbaijan Economy. Communist and Post-Communist study 46: 474–476.

    Article  Google Scholar 

  • Hua, P. 2007. Real Exchange Rate and Manufacturing Employment in China. China Economic Review 18: 338–349.

    Article  Google Scholar 

  • Katsuya, I. 2017. Dutch Disease and Russia. International Economics 151: 66–70.

    Article  Google Scholar 

  • Kutan, A. 2005. Explaining the Real Exchange Rate in Kazakhstan, 1996–2003: Is Kazakhstan Vulnerable to the Dutch Disease? Economic Systems 29: 243–254.

    Article  Google Scholar 

  • Mironov, V., and A. Petronevich. 2015. Discovering the Signs of Dutch Disease in Russia. Resources policy 46: 100–110.

    Article  Google Scholar 

  • Oomes, N., & Kalcheva, K. (2007). Diagnosing Dutch disease: Does Russia have the symptoms? IMF Working Paper, 16–22.

  • Ploeg, F. 2013. Absorbing a Windfall of Foreign Exchange: Dutch Disease Dynamics. Journal of Development Economics 103: 239–240.

    Google Scholar 

  • Pomfret, R. 2012. Resource Management and Transition in Central Asia, Azerbaijan and Mongolia. Journal of Asian Economics 23: 150–155.

    Article  Google Scholar 

  • Tabata, S. 2013. Observations on Russian Exposure to the Dutch Disease. Eurasian Geography and Economics 53: 237–242.

    Google Scholar 

  • U.S Energy Information Administration. 2018. https://www.eia.gov/beta/international/.

  • World Bank. 2018. https://wits.worldbank.org.

Download references

Author information

Authors and Affiliations

  1. Graduate School of International Studies, Korea University, 145 Anam-ro, Seongbuk-gu, Seoul, 02841, Republic of Korea

    Kwansik Yun

Authors
  1. Kwansik Yun
    View author publications

    You can also search for this author in PubMed Google Scholar

Corresponding author

Correspondence to Kwansik Yun.

Rights and permissions

Reprints and permissions

About this article

Check for updates. Verify currency and authenticity via CrossMark

Cite this article

Yun, K. Dutch Disease in Post-Soviet Oil Exporting Countries: Impact of Real Appreciation on De-industrialization. East Asian Community Rev 1, 199–219 (2018). https://doi.org/10.1057/s42215-019-00014-4

Download citation

  • Received:

  • Accepted:

  • Published:

  • Issue Date:

  • DOI: https://doi.org/10.1057/s42215-019-00014-4

Keywords

JEL Classification

Search

Navigation