UN recognition of Palestinian statehood: constitutive or declaratory?

It is necessary to clarify the legal effect of UN recognition of Palestine as a “State”. In other words, does the recognition establish a Palestinian State, or merely acknowledge an already existing State?

To put it straightforward: a UN recognition does not establish a State, but rather acknowledges an already existing fact on the ground; the State of Palestine. Therefore, if a resolution is passed at the UN General Assembly, it would merely recognize the existence of the State of Palestine.