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<p>Our study explores the impact of mineral resources on financial development in Suriname via a commodity-price-shock channel. Using a Structural VAR (SVAR) model and time series data from 1980 to 2021, we find evidence of a financial resource curse. More specifically, negative commodity price shocks undermine financial development by reducing bank lending and deposits, deteriorating bank asset quality, lowering bank profitability and widening the interest rate spread. The intensity of these effects largely depends on fiscal policy response, highlighting hence the important role of the latter in mitigating the financial implications of commodity price volatility.</p>

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A financial resource curse in the context of a small developing resource-based economy: The case of Suriname

  • 期刊论文

  • 出版模式：

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  • 发表日期：

    2026年5月4日

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  • Xanegay Huur,
  • Syed Mansoob Murshed,
  • Elissaios Papyrakis

摘要

Our study explores the impact of mineral resources on financial development in Suriname via a commodity-price-shock channel. Using a Structural VAR (SVAR) model and time series data from 1980 to 2021, we find evidence of a financial resource curse. More specifically, negative commodity price shocks undermine financial development by reducing bank lending and deposits, deteriorating bank asset quality, lowering bank profitability and widening the interest rate spread. The intensity of these effects largely depends on fiscal policy response, highlighting hence the important role of the latter in mitigating the financial implications of commodity price volatility.