We use variation in oil output among Brazilian municipalities to investigate the effects of resource windfalls. We find muted effects of oil through market channels: offshore oil has no effect on municipal non-oil GDP or its composition, while onshore oil has only modest effects on non-oil GDP...

We use variation in oil output among Brazilian municipalities to investigate the effects of resource windfalls. We find muted effects of oil through market channels: offshore oil has no effect on municipal non-oil GDP or its composition, while onshore oil has only modest effects on non-oil GDP...

The paper examines the influence of resource wealth on the nature of economic development of Kazakhstan. Despite active economic dynamics in the 2000s, the effect of resource abundance has a negative impact on the quality characteristics of modern economic growth in the country. Kazakhstan is...

This paper analyses the e¤ect of a resource discovery on an open economy with endogenous directed technical change. Technical progress depends on entrepreneurs who produce (or adopt) technology, and endogenously choose which sector to operate in. The static e¤ect of a resource discovery is de-...

Do reduced costs of factor mobility mitigate ‘Dutch Disease’ symptoms? The case of federations provides an indication for this. By investigating ‘Resource Curse’ effects in all federations for which complete data is available at the regional level it is observed that within federations...

Natural resource discoveries, even when fairly modest in terms of the revenues they are expected to generate, can have significant macroeconomic effects and implications for the conduct of fiscal and monetary policy. In this respect, Uganda is no different from other oil-rich countries. In five...

In recent years, Bolivia has experienced a strong inflow of foreign currency due in part to a sharp rise in prices of natural resources exports. This element along withthe real exchange rate appreciation has created concern about whether the economy is experiencing the so-called Dutch Disease...

Surprisingly little is known about the impact of resource booms on income inequality in resource rich countries (Ross, 2007).  This paper develops a simple theory, in the context of a two sector growth model in which learning-by-doing drives growth, to explain the time path of inequality...

Whether it is fair to characterize natural resource wealth as a curse is still debated. Most of the evidence derives from cross-country analyses, providing cases both for and against a potential resource curse. Scholars are increasingly turning to within-country evidence to deepen our...