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Seven Principles for Managing Resource Wealth
Wills, Samuel - Department of Economics, Oxford University - 2015
This paper studies how capital-scarce countries should manage volatile resource income.  Existing literature recommends that capital-scarce countries invest domestically, but that volatile resource income should be saved in a foreign sovereign wealth fund.  I reconcile these by combining a...
Persistent link: https://www.econbiz.de/10011164423
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Natural resourcs and the spread of HIV/AIDS: curse or blessing?
Sterck, Olivier - Department of Economics, Oxford University - 2014
This paper answers two questions: "What impact have natural resources had on the spread of the HIV/AIDS epidemic so far?" and "What role can natural resource rents play in order to finance the long-run response to HIV/AIDS?"  Using a panel dataset, de Soysa and Gizelis (2013) provided evidence...
Persistent link: https://www.econbiz.de/10011159023
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The Elephant in the Ground: Managing Oil and Sovereign Wealth
Ploeg, Rick Van der; Wills, Samuel; Bremer, Ton van den - Department of Economics, Oxford University - 2013
Many oil exporters accumulate large sovereign wealth funds, though their portfolio allocation does not take into account below-ground assets, like oil. Similarly, the above-ground portfolio does not affect the decision to extract oil. This paper shows that subsoil oil wealth should change a...
Persistent link: https://www.econbiz.de/10010757252
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Guidelines for Exploiting Natural Resource Wealth
Ploeg, Rick Van der - Department of Economics, Oxford University - 2013
The principles of how best to manage the various components of national wealth are outlined, where the permanent income hypothesis, the Hotelling rule and the Hartwick rule play a prominent role. As far as managing natural resource wealth is concerned, a case is made to use an intergenerational...
Persistent link: https://www.econbiz.de/10010757250
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Bribing Voters
Bo, Ernesto Dal - Department of Economics, Oxford University - 2000
voting. Under influence, these decisions can become inefficient. Therefore, the market for policies may be more likely to …, and payoff and information structures. We discuss implications for the efficiency of democracy, voting, lobbying …
Persistent link: https://www.econbiz.de/10010604871
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Bribing Voters.
Dal Bo, E. - Department of Economics, Oxford University - 2000
voting. Under influence, these decisions can become inefficient. Therefore, the market for policies may be more likely to …, and payoff and information structures. We discuss implications for the efficiency of democracy, voting, lobbying …
Persistent link: https://www.econbiz.de/10005051078
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Supermajority Voting Rules: Balancing Commitment and Flexibility
Bo, Ernesto Dal - Department of Economics, Oxford University - 2002
committee to make decisions through voting is that a commitment device can be created out of it, without totally renouncing … flexibility to respond to unexpected contingenices. Appropriate voting procedures and a well chosen supermajority rule can make a … can mitigate time inconsistency by introducing a status quo bias. When voting institutions (ie. the committee …
Persistent link: https://www.econbiz.de/10005051097
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Right Wing Political Extremism in the Great Depression
O'Rourke, Kevin Hjortshøj; Bromhead, Alan de - Department of Economics, Oxford University - 2012
We examine the impact of the Great Depression on the share of votes for right-wing anti-system parties in elections in the 1920s and 1930s.  We confirm the existence of a link between political extremism and economic hard times as captured by growth or contraction of the economy.  What...
Persistent link: https://www.econbiz.de/10011133072
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Greed and Grievance in Civil War
Collier, Paul; Hoeffler, Anke - Department of Economics, Oxford University - 2002
We investigate the causes of civil war, using a new data set of wars during 1960-99. We test a greed theory focusing on the ability to finance rebellion, against a grievance theory focusing on ethnic and religious divisions, political repression and inequality. We find that greed considerably...
Persistent link: https://www.econbiz.de/10010605126
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Does Oil Corrupt? Evidence from a Natural Experiment in West Africa
Vicente, Pedro C. - Department of Economics, Oxford University - 2007
This paper explores an oil discovery natural experiment to assess the role of natural resources in determining corruption. We argue that an anticipated oil boom may increase corruption by boosting the value attributed by an elite to being in power when the actual oil exploration begins. We test...
Persistent link: https://www.econbiz.de/10005047735