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Harnessing Windfall Revenues: Optimal Policies for Resource-Rich Developing Economies

Ploeg, Frederick Van der; Venables, Anthony J. - CESifo - 2009

A windfall of natural resource revenue (or foreign aid) faces government with choices of how to manage public debt, investment, and the distribution of funds for consumption, particularly if the windfall is both anticipated and temporary. We show that the permanent income hypothesis prescription...

Persistent link: https://www.econbiz.de/10005051526

Geopolitics, Aid and Growth

Dreher, Axel; Eichenauer, Vera; Gehring, Kai - CESifo - 2013

We investigate the effects of short-term political motivations on the effectiveness of foreign aid. Donor countries’ political motives might reduce the effectiveness of conditionality, channel aid to inferior projects or affect the way aid is spent in other ways, reduce the aid bureaucracy’s...

Persistent link: https://www.econbiz.de/10010671571

The Pungent Smell of "Red Herrings": Subsoil Assets, Rents, Volatility and the Resource Curse

Ploeg, Frederick Van der; Poelhekke, Steven - CESifo - 2010

volatility channel, may lead one to erroneously conclude that there is no effect of resources on growth. …

Persistent link: https://www.econbiz.de/10008596595

Natural Resources: Curse or Blessing?

Ploeg, Frederick Van der - CESifo - 2010

Are natural resources a “curse” or a “blessing”? The empirical evidence suggests either outcome is possible. The paper surveys a variety of hypotheses and supporting evidence for why some countries benefit and others lose from the presence of natural resources. These include that a...

Persistent link: https://www.econbiz.de/10008534046

The Volatility Curse: Revisiting the Paradox of Plenty

Ploeg, Frederick Van der; Poelhekke, Steven - CESifo - 2009

The volatility of unanticipated output growth in income per capita is detrimental to long-run development, controlling …. This effect is significant and robust over a wide range of specifications. We unravel the effects of volatility by opening … dependence, physical and institutional barriers to trade and associated policy shocks increase volatility sharply and harm growth …

Persistent link: https://www.econbiz.de/10005000394

Systemic Crises and Growth

Ranciere, Romain; Tornell, Aaron; Westermann, Frank - CESifo - 2005

In this paper, we document the fact that countries that have experienced occasional financial crises have, on average, grown faster than countries with stable financial conditions. We measure the incidence of crisis with the skewness of credit growth, and find that it has a robust negative...

Persistent link: https://www.econbiz.de/10005405758

Product Variety and Economic Growth - Empirical Evidence for the OECD Countries

Funke, Michael; Ruhwedel, Ralf - CESifo - 2000

Utilizing panel data for 19 OECD countries we find suppor t for the hypothesis that a greater degree of product variety relative to the US helps to explain relative per capita GDP levels. The empirical work relies upon some direct measures of product variety calculated from 6-digit OECD export...

Persistent link: https://www.econbiz.de/10005416492

Transportation Costs and the Great Divergence

Azarnert, Leonid V. - CESifo - 2014

This work shows the asymmetric effect of the reduction in transportation costs across different sectors in the process of the Great Divergence. Specifically, the analysis indicates that reductions in transportation costs of industrial goods enhance convergence of the growth rates of trading...

Persistent link: https://www.econbiz.de/10010764285

Guest-Worker Migration, Human Capital and Fertility

Azarnert, Leonid V. - CESifo - 2011

This work focuses on a temporary guest-worker-type migration of individuals from the middle class of the wealth distribution. The article demonstrates that the possibility of a low-skilled guest-worker employment in a higher wage foreign country lowers the relative attractiveness of the skilled...

Persistent link: https://www.econbiz.de/10009020797

Diversification, Dutch Disease, and Economic Growth: Options for Uganda

Gylfason, Thorvaldur; Nganou, Jean-Pascal Nguessa - CESifo - 2014

encouraging imports. (ii) The increased volatility of the real exchange rate induced by oscillating oil prices in world markets …

Persistent link: https://www.econbiz.de/10011093976

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