Contemporary policy debates on the macroeconomics of resource booms often concentrate on the short-run Dutch disease effects of public expenditure ignoring the possible long-term effects of alternative revenue-allocation options and the supply-side impact of royalty-financed public investments....

Over the decades, the views on the interrelation between poverty reduction, inequality and growth have undergone different waves within the development community. Development discourse in the decades after the Second World War was largely framed by Kuznets' model. This model proposed rising...