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Macro Policy Responses to Natural Resource Windfalls and the Crash in Commodity Prices
van der Ploeg, Rick - 2017
Policy prescriptions for managing natural resource windfalls are based on the permanent income hypothesis: none of the windfall is invested at home and saving in an intergenerational SWF is dictated by smoothing consumption across different generations. Furthermore, with Dutch disease effects...
Persistent link: https://www.econbiz.de/10012960370
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Aid Volatility and Dutch Disease : Is There a Role for Macroeconomic Policies?
Prati, Alessandro - 2014
This paper studies how macroeconomic policies can help offset two unintended and undesirable features of foreign aid …: its volatility and Dutch disease. We present evidence that aid volatility augments trade balance volatility and that … foreign aid, with the important exception of years of adverse shocks, depresses exports. We also find that these effects can …
Persistent link: https://www.econbiz.de/10012752145
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Extractive revenues and government spending : short- versus long-term considerations
Ploeg, Frederick van der; Venables, Anthony - 2017
The prescription of optimally managing natural resource revenue windfalls by smoothing consumption across generations using an intergenerational sovereign wealth fund that only invests in foreign assets is not appropriate for resource-rich developing economies. It is better for these economies...
Persistent link: https://www.econbiz.de/10011611262
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Harnessing windfall revenues : optimal policies for resource-rich developing economies
Ploeg, Frederick van der; Venables, Anthony - 2009
A windfall of natural resource revenue (or foreign aid) faces government with choices of how to manage public debt …
Persistent link: https://www.econbiz.de/10003813611
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Harnessing Windfall Revenues : Optimal Policies for Resource-Rich Developing Economies
van der Ploeg, Rick - 2009
A windfall of natural resource revenue (or foreign aid) faces government with choices of how to manage public debt …
Persistent link: https://www.econbiz.de/10012764524
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A Debt Overhang Model for Low-Income Countries : Implications for Debt Relief
Koeda, Junko - 2006
The paper presents a theoretical model to explain how debt overhang is generated in low-income countries and discusses its implications for debt relief. The paper indicates that the extent of debt overhang, and the effectiveness of debt relief, would depend on a recipient country's initial...
Persistent link: https://www.econbiz.de/10012779150
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Revisiting the Commodity Curse : A Financial Perspective
Alberola, Enrique - 2017
We study the response of a three-sector commodity-exporter small open economy to a commodity price boom. When the economy has access to international borrowing and lending, a temporary commodity price boom brings about the standard wealth effect that stimulates demand and has long-run...
Persistent link: https://www.econbiz.de/10012963083
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Revisiting the Commodity Curse : A Financial Perspective
Alberola, Enrique - 2017
We study the response of a three-sector commodity-exporter small open economy to a commodity price boom. When the economy has access to international borrowing and lending, a temporary commodity price boom brings about the standard wealth effect that stimulates demand and has long-run...
Persistent link: https://www.econbiz.de/10012963828
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Resource Wealth, Innovation and Growth in the Global Economy
Peretto, Pietro F. - 2015
We analyze the relative growth performance of open economies in a two-country model where different endowments of labor and a natural resource generate asymmetric trade. A resource-rich economy trades resource-based intermediates for final manufacturing goods produced by a resource-poor economy....
Persistent link: https://www.econbiz.de/10013039158
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Fiscal policy and Dutch disease
Ploeg, Frederick van der - 2011
In this paper we revisit the Dutch disease paying particular attention to the role of specific factors of production and capital stock dynamics. The main insight is that if the natural resource rich windfall is substantial but not large enough for the country to become a rentier, capital goods...
Persistent link: https://www.econbiz.de/10009011986