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We study theoretically and empirically whether natural resource windfalls affect political regimes. We document the following regularities. Natural resource windfalls have no effect on the political system when they occur in democracies. However, windfalls have significant political consequences...
Persistent link: https://www.econbiz.de/10013117944
This paper studies the cycles of nationalization and privatization in resource-rich economies. We discuss available evidence on the drivers and consequences of privatization and nationalization, review the existing literature, and present illustrative case studies. Our main contribution is then...
Persistent link: https://www.econbiz.de/10013141855
We develop a dynamic theory of resource wars and study the conditions under which such wars can be prevented. The … our theory. We show that a key parameter determining the incentives for war is the elasticity of demand. Our first result …
Persistent link: https://www.econbiz.de/10013131444
geographic location for inter-State conflict. The main predictions of the theory are that conflict tends to be more likely when …
Persistent link: https://www.econbiz.de/10013083090
This note generalizes the Solow-Stiglitz efficiency condition for natural resources to the problem of fossil fuel extraction with a greenhouse effect. The generalized optimality condition suggests that the greenhouse effect implies overextraction in the sense of leaving future generations a...
Persistent link: https://www.econbiz.de/10012775909
points) is identified. The theory predicts war to be more likely when resource and group concentration are high, and the …
Persistent link: https://www.econbiz.de/10013053845
One of the surprising features of modern economic growth is that economies with abundant natural resources have tended to grow less rapidly than natural-resource-scarce economies. In this paper we show that economies with a high ratio of natural resource exports to GDP in 1971 (the base year)...
Persistent link: https://www.econbiz.de/10013235583
The existence of a natural resource curse has been a longstanding theme in the economic literature and in policy discussions. We propose an alternative mechanism and study its policy implications. The mechanism is based on the interaction between two building blocks: specialization in...
Persistent link: https://www.econbiz.de/10013235591
politicians, both with theory and data. The theory is based on a version of the career concerns model of political agency with … implications of the theory and identify the causal effect of larger federal transfers on political corruption and the observed … features of political candidates at the municipal level. In accordance with the predictions of the theory, we find that larger …
Persistent link: https://www.econbiz.de/10013148374
quantitative macroeconomic theory. We apply the model to examine the effect of a change in fertility from the UN medium-variant to …
Persistent link: https://www.econbiz.de/10013120983