Similar Search Results

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

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

Brunnschweiler and Bulte (2008) provide cross-country evidence that the resource curse is a “red herring” once one corrects for endogeneity of resource exports and allows resource abundance affect growth. Their results show that resource exports are no longer significant while the value of...

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

Growth, Foreign Direct Investment and Urban Concentrations: Unbundling Spatial Lags

Poelhekke, Steven; Ploeg, Frederick Van der - CESifo - 2008

Cross-country regressions suggest that urbanization and FDI are important drivers of growth. However, it is not clear that primacy eventually hurts growth performance. Since it is tough to interpret cross-country growth regressions, we provide detailed evidence on the determinants of outward FDI...

Persistent link: https://www.econbiz.de/10005765950

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 for initial income per capita, population growth, human capital, investment, openness and natural resource dependence. This effect is significant and robust over a wide range of...

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

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

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

, 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 of an ever-lasting increase in consumption financed by borrowing … is large relative to initial foreign debt, is it optimal to build a SWF. The optimal time profile of consumption is …

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

Fiscal Policy and Dutch Disease

Ploeg, Frederick Van der - CESifo - 2011

In this paper we revisit the Dutch disease paying particular attention to the role of specific factors of production and capital stock dynamics. The main insight is that if the natural resource rich windfall is substantial but not large enough for the country to become a rentier, capital goods...

Persistent link: https://www.econbiz.de/10008914280

Rapacious Resource Depletion, Excessive Investment and Insecure Property Rights

Ploeg, Frederick Van der - CESifo - 2010

with insecure property rights, we analyze how resources are transformed into productive capital to sustain consumption. We … rule. The power struggle boosts output but depresses aggregate consumption and welfare, especially in highly fractionalized …

Persistent link: https://www.econbiz.de/10008583632

Monetary Policy in Turkey after Central Bank Independence

Gürkaynak, Refet S. - 2015

We present an accessible narrative of the Turkish economy since its great 2001 crisis. We broadly survey economic developments and pay particular attention to monetary policy. The data suggests that the Central Bank of Turkey was a strong inflation targeter early in this period but began to pay...

Persistent link: https://www.econbiz.de/10013011437

Is Optimal Monetary Policy Always Optimal?

Davig, Troy - 2015

No. And not only for the reason you think. In a world with multiple inefficiencies the single policy tool the central bank has control over will not undo all inefficiencies; this is well understood. We argue that the world is better characterized by multiple inefficiencies and multiple policy...

Persistent link: https://www.econbiz.de/10013017379

Back to Keynes?

Ploeg, Frederick Van der - CESifo - 2005

After a brief review of classical, Keynesian, New Classical and New Keynesian theories of macroeconomic policy, we assess whether New Keynesian Economics captures the quintessential features stressed by J.M. Keynes. Particular attention is paid to Keynesian features omitted in New Keynesian...

Persistent link: https://www.econbiz.de/10005181517