The relationship between the abundance of natural resources and socio-economic performance has been a main object of study in the economic development field since Adam Smith. Dominated by the verification of the so called curse of natural resource, the mainstream literature on the topic has been...

In this paper we document the stylized facts about the relationship between international oil price swings, sovereign risk and macroeconomic performance of oil-exporting economies. We show that even though being a bigger oil producer decreases sovereign risk–because it increases a...

This paper explores the emergence and evolution of social contestation over mineral resources in Zimbabwe through three decades and successive models of state engagement around extractives, revenue mobilization and development planning. It investigates patterns of contestation and outcomes...

In 2006, the discovery of world-class deposits of alluvial diamonds in Marange District in eastern Zimbabwe offered important opportunities for the mobilization of significant revenues in a period of severe and worsening economic and social crisis. The new resources quickly became the subject of...

This paper presents an integrated overview of the literature linking institutions, financial development and economic growth. From the large body of research on institutional development, the paper first selects those contributions that make it possible to study the role of institutional...

Given no generally accepted framework for financial stability, policymakers in developing Asia need to manage, not avoid, financial deepening. This paper supports Asian policymakers' judgement through analysis of the recent events in the United States and Europe and of earlier crisis episodes,...