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We identify key factors, from large set of potential determinants, that explain the variation in export diversification across countries and over time using Bayesian Model Averaging (BMA), which addresses model uncertainty and ranks factors in order of importance vis-a-vis their explanatory...
Persistent link: https://www.econbiz.de/10012021886
Some resource-rich developing countries are in the process of harnessing immense mining resources towards inclusive growth and prosperity. Nevertheless, tapping into natural resources could be challenging given the large front-loaded investment, volatile capital flows and exposure to global...
Persistent link: https://www.econbiz.de/10014412121
This paper uses a newly constructed revenue dataset of 35 resource-rich countries for the period 1992-2009 to analyze the impact of expanding resource revenues on different types of domestic (non resource) tax revenues. Overall, we find a statistically significant negative relationship between...
Persistent link: https://www.econbiz.de/10014394357
This paper studies the impact of natural resource extraction in Latin America and the Caribbean (LAC) from a number of angles. First, we exploit a novel dataset on the universe of giant oil and gas discoveries in the region to trace out the cyclical response of macroeconomic variables to...
Persistent link: https://www.econbiz.de/10011716557
This paper investigates the dynamic impact of natural resource discoveries on government debt sustainability. We use a 'natural experiment' framework in which the timing of discoveries is treated as an exogenous source of within-country variation. We combine data on government debt, fiscal...
Persistent link: https://www.econbiz.de/10013170580
The local sourcing of intermediate products is one the main channels for foreign direct investment (FDI) spillovers …
Persistent link: https://www.econbiz.de/10012112331
countries in Africa have achieved in attracting a substantial volume of FDI. Strong leadership, which has helped promote …This paper reviews the experiences of a few countries in Sub-Saharan Africa that have succeeded in attracting fairly … Africa …
Persistent link: https://www.econbiz.de/10014401807
We focus on the management of highly persistent shocks to aid flows, including PRSP-related increases in net inflows, in three “post-stabilization.” African economies with de jure flexible exchange rates. Such shocks have beneficent long-run effects, but when currency substitution is high...
Persistent link: https://www.econbiz.de/10014402006
Africa lags behind other regions in attracting foreign direct investment (FDI). In some circumstances, there are … obvious explanations for the absence of FDI, such as a high incidence of war. In this paper, we examine the role that monetary … other regions. Furthermore, since monetary policy can range from very transparent to very opaque, we assess Africa''s track …
Persistent link: https://www.econbiz.de/10014400064
Persistent link: https://www.econbiz.de/10011281173