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Fiscal policy and Dutch disease.

Abstract:

In this paper we revisit the Dutch disease paying particular attention to the role of specific factors of production and capital stock dynamics. The main insight is that if the natural resource rich windfall is substantial but not large enough for the country to become a rentier, capital goods must be produced at home and adjustment to natural resource windfall takes time. It takes time to build this home-grown capital. Specific factors are crucial to explain the dynamic responses of the real...

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

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Publisher copy:
10.1007/s10368-011-0191-2

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Institution:
University of Oxford
Oxford Centre for the Analysis of Resource Rich Economies More from this funder
Publisher:
Springer-Verlag Publisher's website
Journal:
International Economics and Economic Policy Journal website
Volume:
8
Issue:
2
Publication date:
2011-06-05
DOI:
URN:
uuid:b426b51c-b19b-4164-8782-982603783b5b
Local pid:
oai:economics.ouls.ox.ac.uk:15085
Language:
English

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