We study the spatial distribution of the effect of oil and gas revenues on Brazilian municipalities, using variations in the international prices of oil and gas to establish causality. Oil and gas revenues increase economic activity, measured by night-time light emissions, in oil-producing...

We explore the effects of persistent income shocks on human capital using oil price fluctuations in a large sample of relevant African countries and employing micro data from multiple waves of the Demographic and Health Survey (DHS). Theoretically, such shocks enable human capital investment via...