This paper investigates the dynamic impact of natural resource discoveries on government debt sustainability. We use a 'natural experiment' framework in which the timing of discoveries is treated as an exogenous source of within-country variation. We combine data on government debt, fiscal...

Recommended readings (Machine generated): 1.RobertM.Solow(1974),'TheEconomicsofResourcesortheResourcesofEconomics',AmericanEconomicReview,64(2),May,1-14 -- 2. Harold Hotelling (1931), 'The Economics of Exhaustible Resources', Journal of Political Economy, 39 (2), April, 137-75 -- 3. Partha...

Challenging the certainty that ecological preservation is incompatible with economic growth, Green Capital shifts the focus from the scarcity of raw materials to the deterioration of the great natural regulatory functions (such as the climate system, the water cycle, and biodiversity). While we...