Alexeev, Michael; Chernyavskiy, Andrey - In: Comparative Economic Studies 56 (2014) 4, pp. 517-535
Using comparable 2002–2011 data, we examine the effect of oil on growth of Russia’s regions and American states. Although Russia’s oil regions are richer than other regions, they did not grow faster, while US oil producers grew faster than other states. We attribute these differences to...