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The curse of aid
The curse of aid

... 2 The curse of natural resources and the effect of foreign aid The curse of natural resources has been documented in several studies. Sachs and Warner (2001) show that resource-rich countries grow slower than other countries and that this finding is robust to controlling for geography, resource abun ...
Economic Diversification in the GCC
Economic Diversification in the GCC

... and oil wealth have not pushed up wages in the private sector; consequently, conventional Dutchdisease effects have not been evident. However, the distribution of oil revenues does have important effects on the incentive structure in the economy that crowds out non-oil tradables production. The rela ...
HARNESSING WINDFALL REVENUES: Optimal policies for
HARNESSING WINDFALL REVENUES: Optimal policies for

... response to the windfall then involves particular emphasis on growing the non-resource economy by developing public infrastructure and reducing distortionary taxation. The third feature concerns the behaviour of the private sector of the economy. In many countries households find it hard to borrow a ...
FREE POWERPOINT TEMPLATES DESIGN
FREE POWERPOINT TEMPLATES DESIGN

... Professor U Aye Kyaw (Principal, MHR) ...
News Shocks in Open Economies: Evidence from Giant Oil
News Shocks in Open Economies: Evidence from Giant Oil

... significant size, the production lag, and the plausible exogenous timing of discoveries. First, giant oil discoveries represent a significant amount of oil revenue for a typical country of modest size. The median value of the constructed NPV as a percentage of country’s GDP is about 9 percent. Giant ...
Download (PDF)
Download (PDF)

... Norway’s saving rate also declined due to the expectation about higher future output. The rise in investment and the decline in saving translated into a sharp current account deficit approaching minus 15 percent of GDP at its peak in the year 1977. The current account then started to improve as savi ...
From Natural Resources to Human Capital
From Natural Resources to Human Capital

Madagascar Country Report 2015 - Wealth Accounting and the
Madagascar Country Report 2015 - Wealth Accounting and the

... marine resource exploitation has stagnated in recent years with economic activity decreasing annually by 2 percent between 2008 and 2010. The contribution of forestry to GDP has seen a net augmentation in the same period with annual growth of 30.4 percent linked to precious timber exploitation that ...
A Survey on Modeling Economic Growth
A Survey on Modeling Economic Growth

... Another goal, a fairer income distribution, is usually more easily achievable if there is additional income as basis for the reallocation. In addition, growth has to be evaluated. It influences many fields that often are not directly included in economic questions. It is relevant which impact it has ...
i Do countries` endowments of Non
i Do countries` endowments of Non

... availability of resources, political stability, and market size. Notwithstanding the quantity and quality of studies on the determinants of FDI, few of them include a country’s supply of non-renewable energy resources (NRERs) such as coal, oil or natural gas (e.g., Mina, 2007; Ledyaeva, 2009). Some ...
What drives oil prices? Emerging versus developed economies.
What drives oil prices? Emerging versus developed economies.

... More puzzling, however, is the effect of the adverse oil specific demand shock (right column) that increases both oil prices and global activity significantly (a feature also seen in Kilian (2009)). These results hold whether we use real oil prices in levels or first difference, and whether we use m ...
the interaction of resource and labour productivity
the interaction of resource and labour productivity

... Resource productivity refers to the efficiency of using natural resources to produce goods and services within the economy. In the past, increasing labour productivity has been the main strategy to use scarce and expensive labour more efficiently and therefore to allow for further economic growth an ...
Determinants of Non-oil Export and Economic Growth in Nigeria: An
Determinants of Non-oil Export and Economic Growth in Nigeria: An

Chapter 4 THE EFFECT OF OIL PRICE ON INDONESIAN OUTPUT
Chapter 4 THE EFFECT OF OIL PRICE ON INDONESIAN OUTPUT

... Second, I would like also to thank to our friendly programme administrator Marja Zubli for her important help during my study at the Institute of Social Studies, Den Haag. I would like also to thank to my colleageous for their contribution through discussions, debates, and their cooperative learning ...
The impact of Crude oilprice volatility on selected Asian emerging economies
The impact of Crude oilprice volatility on selected Asian emerging economies

... set this study includes too many variables which may cause model misspecification issue. Second, considering variables like, output, employment, and investment within the same model with few data points may raise multicolenearity. Third, performing structural break test for stationary series does no ...
Institution Building and Growth in Transition
Institution Building and Growth in Transition

... concerned with securing for themselves property rights in the formerly state-owned enterprises to extract economic rents and thus securing economic and political power in the post-transition society. We refer to these two opposite transition experiences as “catalytic transition” and “extractive tra ...
the resources boom and macroeconomic policy in australia
the resources boom and macroeconomic policy in australia

Shipping Costs, Manufactured Exports, and
Shipping Costs, Manufactured Exports, and

... data, which are drawn from UNCTAD, show the cost of exporting general cargo from several African countries to destinations in Northern Europe, East Asia, and North America. The data include sea shipment costs for all countries, plus the additional road or rail costs for landlocked countries. Landloc ...
VAR Models in Macroeconomic Research
VAR Models in Macroeconomic Research

... macroeconometric models working in the tradition of the Cowles commission, in which identification was achieved by excluding variables - most often lagged endogenous variables - without any theoretical or statistical justifications. The idea behind the traditional macroeconometric procedure was tha ...
Impact of low oil prices on oil exporting countries
Impact of low oil prices on oil exporting countries

... North American producers between the beginning of 2015 and April 2016, according to Haynes and Boone (2016)), while analysts have warned half of US shale drillers could be put out of business if prices go below the 30$/bl. In terms of demand, about 50% of global oil production fuels 98% of the glob ...
ge11 Harding  15027197 en
ge11 Harding 15027197 en

... The model also contains controls to capture other factors that are important in determining trade volumes. Our approach is to embed our framework in the gravity model, the workhorse model of empirical international trade, by using two sorts of variables. One is own country characteristics. In line w ...
Thesis - Kyiv School of Economics
Thesis - Kyiv School of Economics

... exactly those used by Bacon and Kojima (2008) in the decomposition analysis of oil price vulnerability index and hence empirically confirm its appropriateness. Another paper, which perfectly fits into this category, is the one by Chen (2007). Relying on the fact that real shocks are the primary cau ...
DOC - The World Bank Documents
DOC - The World Bank Documents

... The environment-poverty nexus in the coastal and marine sector in Indonesia is well recognized by GOI and the donor community. What to do about it is only now beginning to converge. The main lessons from a broad range of GOI, donor, NGO, and Bank-financed initiatives are: (a) coastal management shou ...
What drives oil prices? Emerging versus developed
What drives oil prices? Emerging versus developed

The political economy of migration policies in resource
The political economy of migration policies in resource

... the wage level down and increases goods demand. The more money they send out the smaller the demand pressure on domestic prices. The costs and benefits for a particular citizen will depend on that citizen’s sources of income and consumption pattern. In the following we build a model that highlights ...
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Resource curse

The resource curse, also known as the paradox of plenty, refers to the paradox that countries and regions with an abundance of natural resources, specifically point-source non-renewable resources like minerals and fuels, tend to have less economic growth and worse development outcomes than countries with fewer natural resources. This is hypothesized to happen for many different reasons, including a decline in the competitiveness of other economic sectors (caused by appreciation of the real exchange rate as resource revenues enter an economy, a phenomenon known as Dutch disease), volatility of revenues from the natural resource sector due to exposure to global commodity market swings, government mismanagement of resources, or weak, ineffectual, unstable or corrupt institutions (possibly due to the easily diverted actual or anticipated revenue stream from extractive activities). The resource curse may not be universal for all countries with an abundance of natural resources, but on average, economies with abundant natural resources have tended to grow more slowly than natural-resource-scarce economies.
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