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Commodity prices, growth, and the natural resource curse: reconciling a conundrum

Abstract:

Currently, evidence on the ‘resource curse’ yields a conundrum. While there is much crosssection evidence to support the curse hypothesis, time series analyses using vector autoregressive (VAR) models have found that commodity booms raise the growth of commodity exporters. This paper adopts panel cointegration methodology to explore longer term effects than permitted using VARs. We find strong evidence of a resource curse. Commodity booms have positive short-term effects on output, but advers...

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Publication status:
Published
Peer review status:
Not peer reviewed

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Institution:
University of Oxford
Division:
SSD
Department:
Economics
Research group:
Centre for the Study of African Economies
Oxford college:
St Antony's College
Role:
Author
More by this author
Institution:
University of Oxford
Division:
SSD
Department:
Economics
Research group:
Centre for the Study of African Economies
Role:
Author
Publication date:
2007-01-01
Language:
English
Keywords:
Subjects:
UUID:
uuid:234c9244-06ff-4a67-b96a-684f8bbc63fe
Local pid:
ora:1674
Deposit date:
2008-03-14

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