In this paper, we examine the interaction between oil exports’ revenues and long-run economic growth in Algeria over the period 1979–2013. Advanced econometric procedures including the cointegration VARX (VAR with exogenous variables) model, over-identifying restrictions, bootstrapping, persistent profiles and Generalized Impulse Response Function are utilized in the empirical analysis. The results show a strong and positive association between oil revenue and long-run economic growth, but negative linkages between the volatility of oil revenues and growth in Algeria. Our impulse response analysis also provides evidence that a positive shock in oil revenues increases the level of real output, and appreciates the real exchange rate.

中文翻译：

---

阿尔及利亚和自然资源诅咒：石油丰富和经济增长

在本文中，我们研究了1979-2013年期间阿尔及利亚的石油出口收入与长期经济增长之间的相互作用。在经验分析中，使用了先进的计量经济学程序，包括协整VARX（具有外生变量的VAR）模型，过度识别的限制，自举，持续性和广义冲激响应函数。结果表明，石油收入与长期经济增长之间存在密切而积极的联系，但阿尔及利亚的石油收入波动与增长之间存在负相关关系。我们的冲激响应分析还提供了证据，表明石油收入受到积极冲击会增加实际产出水平，并升值实际汇率。