This paper develops a long run growth model for a major oil exporting economy and derives conditions under which oil revenues are likely to have a lasting impact. This approach contrasts with the standard literature on the "Dutch disease" and the "resource curse", which primarily focus on short...

This paper develops a long run growth model for a major oil exporting economy and derives conditions under which oil revenues are likely to have a lasting impact. This approach contrasts with the standard literature on the "Dutch disease" and the "resource curse", which primarily focus on short...

The US set an oil export ban after the Iranian crisis in the 1970s due to energy security issues. Since US oil production has been continuously diminishing, there had not been many issues until recently. However, after the hydraulic fracturing technology was introduced to development of shale in...