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Public Capital in Resource Rich Economies: Is there a Curse?

Abstract:

As poor countries deplete their natural resources, for increased consumption to be sustainable some of the revenues should be invested in other public assets. Further, since such countries typically have acute shortages of public capital, the finance from resource depletion is an opportunity for needed public investment. Using a new global panel dataset on public capital and resource rents covering the period 1970 to 2005 we find that, contrary to these expectations, resource rents signific...

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Sambit Bhattacharyya More by this author
Paul Collier More by this author
Volume:
WPS/2011-14
Series:
CSAE Working Paper Series
Publication date:
2011
URN:
uuid:725bad85-3926-444e-8853-792c2bc93f5b
Local pid:
oai:economics.ouls.ox.ac.uk:15274
Language:
English

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