, and the real value of oil production. Secondly, we investigate the long-run (level) impacts of natural resource abundance … substantial cross-sectional dependence and cross-country heterogeneity in our sample, which covers 53 oil exporting and importing … developed by Pesaran (2006) and Pedroni (2000) for estimation. Our results, using the real value of oil production, rent or …

Some natural resources-oil and minerals in particular-exert a negative and nonlinear impact on growth via their … confirmation of this aspect of natural resources. Waste and poor institutional quality stemming from oil appear to have been … which involves directly distributing the oil revenues to the public. Even with all the difficulties that will no doubt …

This paper investigates the likely implications of declining oil production on Yemen's equilibrium exchange rate, and … discusses policy options to ensure a smooth transition to a nonoil economy. The empirical results suggest that, as oil …

The Government of Algeria has pursed a relatively expansionary fiscal policy in recent years, thanks to rising oil …

This paper investigates the linkages between oil and growth in Congo, where there appears to be no evidence of direct … spillover effects. The empirical results suggest however that political instability has a negative effect on non-oil growth, and … that the presence of oil could have fueled political instability by being associated with weakening institutions. The …