This paper shows, first, that non-commodity revenues are more volatile in oil- and mineral-rich countries and that … quality of institutions is associated with lower volatility. We investigate the channels through which oil and mineral revenue … volatility lead to non-commodity revenues volatility, and find that when oil and fiscal revenues increase (decrease), non …

and supply shocks, and while oil production and high international prices negatively affect agricultural output, the …'s manufacturing sector. In this context, increased public expenditures in tradable sectors present the opportunity to make oil …