This paper provides evidence of the causal impact of oil discoveries on development. Novel data on the drilling of 20,000 oil wells in Brazil allows us to exploit a quasi-experiment: Municipalities where oil was discovered constitute the treatment group, while municipalities with drilling but no...

Intro -- Title Page -- Copyright -- Contents -- Preface and Acknowledgments -- List of Abbreviations -- Part One: Introduction -- 1. Accounting for Growth and Decline in Venezuela -- 2. Trends and Cycles in the Venezuelan Economy -- Part Two: A Critical Survey of the "Resource Curse" Literature...

This paper reviews resource sector developments in 12 countries in Sub-Saharan Africa that made their first (major) petroleum discoveries during the most recent commodity boom. The analysis, which goes back to 2001, looks at sector forecasts of international organizations, governments, and...

This book chapter analyzes the dysfunctions of Nigeria’s oil sector, often framed as the “resource curse.” The resource curse thesis has for long been employed to explain the developmental challenges of veteran oil and mineral exporters such as Nigeria. This chapter examines the weaknesses...

Economic growth and financial development are intrinsically related. Literature provides evidence that economic growth leads to financial development and financial development also leads to economic growth. The study analyzes this association between economic growth and financial development...

Frontmatter -- Contents -- Preface and Acknowledgments -- Abbreviations -- Part One: Introduction -- 1. Accounting for Growth and Decline in Venezuela -- 2. Trends and Cycles in the Venezuelan Economy -- Part 2. A Critical Survey Of The “Resource Curse” Literature -- 3. Economic Explanations...