We examine the effect of the interaction between resource rents and democracy on corruption and internal conflict for a panel of 29 Sub-Saharan African countries during the period from 1985 to 2007. We find that higher resource rents lead to more corruption and that the effect is significantly...

We examine the effect of the interaction between resource rents and democracy on corruption and internal conflict for a panel of 29 Sub-Saharan African countries during the period from 1985 to 2007. We find that higher resource rents lead to more corruption and that the effect is significantly...

Many bemoan the fact that financial crisis and deep recession did not lead to constructive reform in most countriesat least not sufficient reform. But in Iceland it has led to attempts to rewrite the constitution for the better. Democratic government may well improve there.

Abundant natural resources brought Iceland a systemically overvalued currency, with adverse effects on the secondary tradable sector. During 2003-08 another national treasure the sovereign's AAA rating, was used to attract foreign capital, elevating the real exchange rate even further. The...

This is a concise and reader-friendly introduction to the principles of economic growth for students of economics and business. Gylfason examines theoretical and empirical models of economic growth through case studies drawn from around the world and a trenchant analysis of classic thought in...

We compare and contrast the economic growth performance of Croatia and Latvia since the collapse of communism in 1991 in an attempt to understand better the extent to which the growth differential between the two countries can be traced to increased efficiency in the use of capital and other...

We compare and contrast the economic growth performance of Croatia and Latvia since the collapse of communism in 1991, in an attempt to understand better the extent to which the output growth differential between the two countries can be traced to increased efficiency in the use of capital and...

This paper deals with the implications of natural resources for the conduct of economic policies and the role and design of institutions in resource-rich countries. The paper briefly reviews the experience of a few resource-rich countries, highlighting the successes of those that have done well...

Natural resource discoveries, even when fairly modest in terms of the revenues they are expected to generate, can have significant macroeconomic effects and implications for the conduct of fiscal and monetary policy. In this respect, Uganda is no different from other oil-rich countries. In five...