This paper analyses risks and opportunities related to the management and the allocation of wealth derived from the exploitation of natural resources in Brazil. We first discuss natural resources curse hypothesis and present some examples to deal with its negative effects based on the...

Most mining operations in developing countries are de facto public-private partnerships, as the state typically owns the resources and partners with a company or consortium in extraction. Revenue sharing is a critically important element of such partnerships, and it is the starting point for any...

We estimate the long-run effects of oil wealth on development by exploiting spatial variation in sedimentary basins---areas where petroleum can potentially form. Instrumental variables estimates indicate that oil production impedes democracy and fiscal capacity development, increases corruption,...

En 2011 a través de la creación del Sistema General de Regalías –SGR- se modificó la manera como se distribuyen los recursos de regalías en Colombia, permitiendo que participaran de manera equitativa todas las entidades territoriales del país. Después de varios años de entrada en...

This article challenges claims that liberalising state regulated markets in developing countries may induce lasting economic development. The analysis of the rise of tourism in Egypt during the last three decades suggests that the effects of liberalisation and structural adjustment are...

This study analyzes the sensitivity of US giving to both business cycle fluctuations and trend growth. With tax revenues as a point of reference, US giving constitutes a relatively stable source of revenue. Total giving is characterized by a business cycle volatility which is comparable to the...

Monetary policy is superneutral in an overlapping generations model. Previous authors have argued that superneutrality does not hold in such a setting. However, the standard results rely on the counter-factual premise of helicopter money and are overturned if money creation through open market...

We estimate the effect of the UK Stamp Duty Land Tax on household mobility using micro data. The UK (until 2014) provided an ideal setting to explore the impact of housing transfer taxes on mobility decisions. This is partly because the stamp duty liability is quite substantial, at least for...

We provide a comprehensive empirical study on the factors that drive citizens' policy preferences regarding inheritance taxation. It builds on a representative survey among more than 1.000 German citizens in 2014 and 2015. Support for inheritance taxation is found to be driven by monetary...

This Working Paper contains some observations concerning the evolution of trade and trade-related policies in the Asia-Pacific region since the establishment in 1989 of the Trade Policy Review Mechanism (TPRM), whose goal is to improve the transparency of these policies. It also draws some...