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The implications of natural resource exports for non-resource trade

Abstract:

Foreign exchange windfalls such as those from natural resource revenues change non-resource exports, imports, and the capital account. We study the balance between these responses and show that the response to 1 dollar of resource revenue is, for our preferred estimates, to decrease non-resource exports by 74 cents and increase imports by 23 cents, implying a negligible effect on foreign saving. The negative per 1 dollar impact on exports is larger for manufactures than for other sectors, and...

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Publication status:
Published
Peer review status:
Peer reviewed
Version:
Accepted manuscript

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Publisher copy:
10.1057/imfer.2015.43

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Institution:
University of Oxford
Department:
Oxford, SSD, Economics, OxCarre
Role:
Author
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Grant:
Centre for the Analysis of Resource Rich Economies (Oxcarre)
Publisher:
Palgrave Macmillan Publisher's website
Journal:
IMF Economic Review Journal website
Volume:
64
Issue:
2
Pages:
268–302
Publication date:
2016-01-01
DOI:
EISSN:
2041-417X
ISSN:
2041-4161
URN:
uuid:9d8c073f-45ca-427d-b35e-851be86e1470
Source identifiers:
581677
Local pid:
pubs:581677
Paper number:
2

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