We examine the response of the news-based Corruption Reflection Index (CRI) to positive shocks in oil revenues in Iran. Using annual data from 1962 to 2019, we employ the Vector Autoregressive (VAR) model and analyze impulse response functions. Our findings reveal a positive and significant...

Unlike in Asia, the manufacturing sector has not (yet) become a driver of structural change in Africa. One common explanation is that the natural resource-focus of many African economies leads to Dutch disease effects. To test this argument for the case of newly found oil in Ghana we develop a...

The question we address is whether mandated disclosure about dispersion of non-financial asset values can provide information relevant to assessing firm risk. Using a sample of Canadian oil and gas (O&G) firms between 2004 and 2011, we find that the difference between the disclosed 10th and 50th...