Many of the world's poorest and most fragile states are joining the ranks of oil and gas producers. These countries face critical policy questions about managing and spending new revenue in a way that is beneficial to their people. At the same time, a growing number of developing countries have...

This paper explores the effect of news shocks on the current account and other macroeconomic variables using worldwide giant oil discoveries as a directly observable measure of news shocks about future output - the delay between a discovery and production is on average 4 to 6 years. We first...

This paper provides evidence of the causal impact of oil discoveries on development. Novel data on the drilling of 20,000 oil wells in Brazil allows us to exploit a quasi-experiment: Municipalities where oil was discovered constitute the treatment group, while municipalities with drilling but no...

Chapter 1. Introduction and Overview of Study- the Challenge of managing oil -- Chapter 2. Economic History of Oil Exploration and Production in T&T, 1857-2020 -- Chapter 3. History of oil refining in T&T -- Chapter 4. Natural Gas Production -- Chapter 5. Resource Curse and the Dutch Disease --...

This paper explores the effect of news shocks on the current account and other macroeconomic variables using worldwide giant oil discoveries as a directly observable measure of news shocks about future output-the delay between a discovery and production is on average 4 to 6 years. We first...