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China's Growing Economic Activity in Africa
Besada, Hany - 2008
now Africa's third largest trading partner behind the EU and the US. The Chinese FDI stock in Africa has grown from $49 … FDI compared to a total from all sources of $36 billion, around 1.4% of total FDI inflows to Africa; and only 8.6% of …Trade between the whole of Africa and China (imports and exports summed) grew from $10.6 billion to $73.3 billion …
Persistent link: https://www.econbiz.de/10012771826
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Optimal Resource Extraction Contracts Under Threat of Expropriation
Engel, Eduardo M. R. A. - 2010
The government contracts with a foreign firm to extract a natural resource that requires an upfront investment and which faces price uncertainty. In states where profits are high, there is a likelihood of expropriation, which generates a social cost that increases with the expropriated value. In...
Persistent link: https://www.econbiz.de/10012759601
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Profit Sharing between Governments and Multinationals in Natural Resource Extraction : Evidence from a Firm-Level Panel
Waxman, Andrew - 2008
The quot;fairnessquot; of negotiations between countries and resource extracting firms is subject to many accusations and counter-accusations and may be argued, in many instances, to impact the subsequent economic benefit to a host country from extraction. This paper examines the role of host...
Persistent link: https://www.econbiz.de/10012773432
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Privatization and Nationalization Cycles
Chang, Roberto - 2010
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
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The Political Resource Curse
Brollo, Fernanda - 2010
The paper studies the effect of additional government revenues on political corruption and on the quality of politicians, both with theory and data. The theory is based on a version of the career concerns model of political agency with endogenous entry of political candidates. The evidence...
Persistent link: https://www.econbiz.de/10013148374
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Resource Curse or Debt Overhang?
Manzano, Osmel E; Rigobon, Roberto - 2021
It has been widely believed that resource abundant economies grow less than other economies. In a very influential paper, Sachs and Warner (1997), point out that there is a negative relationship between resource abundance and growth. Two important econometric problems are present in the...
Persistent link: https://www.econbiz.de/10013224854
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The Assignment of Property Rights on the Western Frontier : Lessons for Contemporary Environmental and Resource Policy
Libecap, Gary D. - 2021
In addressing environmental and natural resource problems, there is a move away from primary reliance upon centralized regulation toward assignment of property rights to mitigate the losses of open-access. I examine the assignment of private property rights during the 19th and early 20th...
Persistent link: https://www.econbiz.de/10013225045
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Cross-Sectoral Externalities Related to Natural Resources and Ecosystem Services
Bellanger, Manuel; Fonner, Robert; Libecap, Gary; … - 2022
Standard approaches to environmental and natural resource use externalities generally focus on single-sector resources and user groups. Remedies include Pigouvian-style government constraints, small group controls following Elinor Ostrom, or less frequently, bargaining across users as outlined...
Persistent link: https://www.econbiz.de/10014243356
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Natural Resource Abundance and Economic Growth
Sachs, Jeffrey D.; Warner, Andrew M. - 2021
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
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An Alternative Interpretation of the 'Resource Curse' : Theory and Policy Implications
Hausmann, Ricardo; Rigobon, Roberto - 2021
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