This paper examines the relationship between hydrocarbon and non-hydrocarbon revenues using a probabilistic panel model with data covering 30 resource-rich countries over 1992-2012. It also discusses policy implications for Uganda, a country with recently discovered oil reserves. The findings...

This paper examines the relationship between hydrocarbon and non-hydrocarbon revenues using a probabilistic panel model with data covering 30 resource-rich countries over 1992-2012. It also discusses policy implications for Uganda, a country with recently discovered oil reserves. The findings...

This paper estimates the government spending multiplier for natural resource-rich low-income countries (LICs). Kraay (2014) identification strategy exploits the long lags between approval and eventual disbursement of loans to isolate a predetermined component of public spending associated with...

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...

Economic diversification has gained significant attention as a crucial factor for sustainable development worldwide. This paper addresses the risks associated with extreme specialisation and explores the potential benefits of economic diversification for Mongolia. By comparing Mongolia with its...

Because excessive specialization can be risky, diversification matters for sustainable development. A case study of Madagascar, this paper begins by briefly discussing economic and institutional diversification and presenting a simple model of production possibilities to illuminate the possible...

This paper examines the relationship between hydrocarbon and non-hydrocarbon revenues using a probabilistic panel model with data covering 30 resource-rich countries over 1992-2012. It also discusses policy implications for Uganda, a country with recently discovered oil reserves. The findings...

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...