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Displaying results 1 to 6 of 6.

  1. The cross of gold
    Brazilian treasure and the decline of Portugal
    Author: Kedrosky, Davis; Palma, Nuno
    Published: 26 July 2023
    Publisher:  Centre for Economic Policy Research, London

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Universitätsbibliothek Mannheim
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Array ; DP18323
    Subjects: Dutch disease; Resource curse; The little divergence; Portugal
    Scope: 1 Online-Ressource (circa 72 Seiten), Illustrationen
  2. The "fiscal presource curse"
    giant discoveries and debt sustainability
    Author: Ruzzante, Matteo; Souza Sobrinho, Nelson Ferreira
    Published: 2022 JAN
    Publisher:  International Monetary Fund, [Washington, D.C.]

    This paper investigates the dynamic impact of natural resource discoveries on government debt sustainability. We use a 'natural experiment' framework in which the timing of discoveries is treated as an exogenous source of within-country variation. We... more

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    Staatsbibliothek zu Berlin - Preußischer Kulturbesitz, Haus Unter den Linden
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    This paper investigates the dynamic impact of natural resource discoveries on government debt sustainability. We use a 'natural experiment' framework in which the timing of discoveries is treated as an exogenous source of within-country variation. We combine data on government debt, fiscal stress and debt distress episodes on a large panel of countries over 1970-2012, with a global repository of giant oil, gas, and mineral discoveries. We find strong and robust evidence of a 'fiscal presource curse', id est, natural resources can jeopardize fiscal sustainability even before 'the first drop of oil is pumped'. Specifically, we find that giant discoveries, mostly of oil and gas, lead to permanently higher government debt and, eventually, debt distress episodes, specially in countries with weaker political institutions and governance. This evidence suggest that the curse can be mitigated and even prevented by pursuing prudent fiscal policies and borrowing strategies, strengthening fiscal governance, and implementing transparent and robust fiscal frameworks for resource management

     
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    Source: Staatsbibliothek zu Berlin
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9781616358990
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    Series: Working paper / International Monetary Fund ; WP/22, 10
    Subjects: Natural resources; Resource curse; Oil; Mines; Debt sustainability; Fiscal policy; Political institutions; Debt Management; Debt; International Lending and Debt Problems; Models of Political Processes; Sovereign Debt
    Scope: 1 Online-Ressource (circa 77 Seiten), Illustrationen
  3. Beyond the curse
    policies to harness the power of natural resources
    Published: 2012
    Publisher:  International Monetary Fund, Washigton, DC

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    B 381825
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    Content information
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Print
    ISBN: 9781616351458
    Subjects: Diversification in industry; Economic development; Finance; Fiscal policy; Foreign exchange rates; Monetary policy; Natural resources; Primary commodities; Resource curse; Sovereign wealth funds
    Scope: XI, 275 S., graph. Darst.
    Notes:

    Enth. 13 Beitr
  4. The "fiscal presource curse"
    giant discoveries and debt sustainability
    Author: Ruzzante, Matteo; Souza Sobrinho, Nelson Ferreira
    Published: 2022 JAN
    Publisher:  International Monetary Fund, [Washington, D.C.]

    This paper investigates the dynamic impact of natural resource discoveries on government debt sustainability. We use a 'natural experiment' framework in which the timing of discoveries is treated as an exogenous source of within-country variation. We... more

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    This paper investigates the dynamic impact of natural resource discoveries on government debt sustainability. We use a 'natural experiment' framework in which the timing of discoveries is treated as an exogenous source of within-country variation. We combine data on government debt, fiscal stress and debt distress episodes on a large panel of countries over 1970-2012, with a global repository of giant oil, gas, and mineral discoveries. We find strong and robust evidence of a 'fiscal presource curse', id est, natural resources can jeopardize fiscal sustainability even before 'the first drop of oil is pumped'. Specifically, we find that giant discoveries, mostly of oil and gas, lead to permanently higher government debt and, eventually, debt distress episodes, specially in countries with weaker political institutions and governance. This evidence suggest that the curse can be mitigated and even prevented by pursuing prudent fiscal policies and borrowing strategies, strengthening fiscal governance, and implementing transparent and robust fiscal frameworks for resource management

     
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    Source: Staatsbibliothek zu Berlin
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9781616358990
    Other identifier:
    Series: Working paper / International Monetary Fund ; WP/22, 10
    Subjects: Natural resources; Resource curse; Oil; Mines; Debt sustainability; Fiscal policy; Political institutions; Debt Management; Debt; International Lending and Debt Problems; Models of Political Processes; Sovereign Debt
    Scope: 1 Online-Ressource (circa 77 Seiten), Illustrationen
  5. Directed technical change and the resource curse
    Author: Greaker, Mads; Heggedal, Tom-Reiel; Rosendahl, Knut Einar
    Published: September 2022
    Publisher:  Statistics Norway, Research Department, Oslo

    The "resource curse" is a potential threat to all countries relying on export income from abundant natural resources such as fossil fuels. The early literature hypothesized that easily accessible natural resources would lead to lack of technological... more

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    DS 619
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    The "resource curse" is a potential threat to all countries relying on export income from abundant natural resources such as fossil fuels. The early literature hypothesized that easily accessible natural resources would lead to lack of technological progress. In this article we instead propose that abundance of fossil fuels can lead to the wrong type of technological progress. In order to inquire into our research question, we build a model of a small, open economy having specialized in export of fossil fuels. R&D in fossil fuel extraction technology competes with R&D in clean energy technologies. Moreover, technological progress is path dependent as current R&D within a technology type depends on past R&D within the same type. Finally, global climate policy may reduce the future value of fossil fuel export. We find that global climate policy may either lead to a resource curse or help the country escaping a potential resource curse. The ripeness of the clean energy technologies is essential for the outcomes: If the clean technology level is not too far beyond the fossil fuel technology, a shift to exporting clean energy is optimal independent of global climate policy and climate policy can accelerate this shift. While if the clean technology is far behind, a shift should only happen as a response to global climate policy, and the government should intervene to accelerate this shift.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/268067
    Series: Discussion papers / Statistics Norway, Research Department ; 991
    Subjects: Environment; Directed technological change; Innovation policy; Resource curse
    Scope: 1 Online-Ressource (circa 42 Seiten), Illustrationen
  6. Reassessing the resource curse using causal machine learning
    Author: Hodler, Roland; Lechner, Michael; Raschky, Paul A.
    Published: 2020
    Publisher:  School of Economics and Political Science, Department of Economics, University of St.Gallen, St. Gallen

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Discussion paper / University of St.Gallen, School of Economics and Political Science, Department of Economics ; no. 2020, 16 (September 2020)
    Subjects: Resource curse; mining; economic development; conflict; causal machine learning; Africa
    Scope: 1 Online-Ressource (circa 39 Seiten), Illustrationen