We study the association between resource rents and political stability, highlighting the importance of the distribution of political power as a mediating factor. We present a simple theoretical model showing that increased rents are likely to be positively associated with the stability of a...

We study the association between resource rents and political stability, highlighting the importance of the distribution of political power as a mediating factor. We present a simple theoretical model showing that increased rents are likely to be positively associated with the stability of a...

The paper considers the process of discovery for subsoil resources, including both hard minerals and hydrocarbons and estimates its magnitude in recent years, as derived from the sum of extraction and changes in proven reserves. Spurred on by technology change and strong market conditions,...

What does global trade mean for the environment of any particular place? It can produce place-based transformations that are both positive and negative. The Kuznets curve is often touted as a solution that resolves the conflict between trade promotion and environmental protection by purporting...

This paper investigates the effect of human capital accumulation on the direction of technical Change in a framework with natural resources and environmental externalities. The model simulates that an increasing knowledge stock of worker tends to direct technical change in favour of intangible...

We document that global resource extraction has strongly increased with economic growth, while prices have exhibited stable trends for almost all major non-renewable resources from 1700 to 2018. Why have resources not become scarcer as suggested by standard economic theory? We develop a theory...

In this paper, we study the implications of assuming different technologies for physical capital accumulation and consumption. More precisely, we assume that physical capital accumulation is relatively more energy-intensive than consumption. We conclude that this hypothesis, together with the...

This paper studies the possibilities of technical progress to deal with the growth limit problem imposed by the usage of non-renewable energy resources, when physical capital production is relatively more energy-intensive than consumption. In particular, this work presents the conditions under...

We add an extractive sector to an endogenous growth model of expanding varieties and directed technological change. Extractive firms reduce the stock of non-renewable resources through extraction, but also increase the stock through R&D investment in extraction technology. Our model replicates...

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...