Ruzzante, Matteo; Souza Sobrinho, Nelson Ferreira - 2022
-2012, with a global repository of giant oil, gas, and mineral discoveries. We find strong and robust evidence of a 'fiscal … presource curse', id est, natural resources can jeopardize fiscal sustainability even before 'the first drop of oil is pumped …'. Specifically, we find that giant discoveries, mostly of oil and gas, lead to permanently higher government debt and, eventually …
