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Challenges And Opportunities For Resource Rich Economies.

Abstract:

The political economy of resource rich countries is surveyed. The empirical evidence suggests that countries with a large share of primary exports in GNP have bad growth records and high inequality, especially if the quality of institutions and the rule of law are bad. The economic argument that a resource bonanza induces appreciation of the real exchange rate and a decline of non-resource export sectors may have some relevance. More important, a resource boom reinforces rent grabbing, especi...

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Authors


Frederick van der Ploeg More by this author
Volume:
05
Series:
Research Papers
Publication date:
2008-03-05
URN:
uuid:6abf9ed7-77da-4c6c-ba1c-bc836d1b2345
Local pid:
oai:economics.ouls.ox.ac.uk:13030
Language:
English

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