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Commodity prices, growth, and the natural resource curse

Subtitle:
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Not peer reviewed
Version:
Author's Original

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Institution:
University of Oxford
Research group:
Development Economics
Oxford college:
St Antony's College
Department:
Social Sciences Division - Economics - Centre for the study of African Economies
More by this author
Institution:
University of Oxford
Research group:
Oxford Institute for Global Economic Development
Department:
Social Sciences Division - Economics
Series:
CSAE working paper series
Publication date:
2007
URN:
uuid:31e5918a-8aca-40e0-b9ce-e542a77a982b
Local pid:
ora:2596

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