One of the more unhappy effects of the recent, massive rise in the price of crude oil has been its impact on those developing countries not fortunate enough to be oil exporters themselves. The authors offer a proposal for rechanneling some of the oil revenues to the impacted developing countries.

The lockdowns and stimulus programmes that governments have adopted to fight the COVID-19 pandemic and the associated economic crisis have affected the distribution of income and production within and between countries. Considering both, current evidence indicates that the EU-wide and global...