Despite a growing literature on the natural resource curse, existing studies are sparse on how real effective exchange rate, political stability and corruption shape the relationship between natural resources and tourism revenues. This study analyses both the direct and indirect effects of...

This paper examines the growth experience of the Central Asian economies after the breakup of the Soviet Union. In particular, it evaluates the impact of being landlocked and resource rich. The main conclusions are: (1) Over the period 1994–2006, the landlocked resourcescarce developing...

Several empirical studies have found that when exports are concentrated in natural resources countries experience slower rates of economic growth. Various potential channels for this relationship have been identified including Dutch disease, volatility in the terms of trade, and impacts on...

Using a fractional integration approach, we find that developing countries recover their economic growth faster than developed countries in response to a shock. The main finding is that longer civil conflicts are associated with a faster recovery process. To shed light on the channels, we...

This study examines the repercussions of the 1979 Sandinista revolution on Nicaragua's economic growth trajectory. Drawing on the synthetic control method, it constructs an artificial counterpart to Nicaragua with the primary objective of estimating the counterfactual gross domestic product...

The defense-growth nexus is investigated empirically using longitudinal data for Guatemala and allowing the effect of defense spending on growth to be nonlinear. Using recently developed econometric methods involving threshold regressions, evidence of a level-dependent effect of military...