Natural resources and government debt are integral to sustainable development. This paper presents an empirical study of the direct impact of natural resources on government debt, as well as the heterogeneity and impact mechanism. With cross-country panel data of 151 countries and regions from...

Since the Age of Discovery, the world has grown integrated economically while remaining disintegrated politically as a collection of nation states. The nation-state system is robust because borders, as state dividers, interact with economic integration to absorb shocks. We build a tractable...