Natural Resource Booms and Inequality: Theory and Evidence.
Surprisingly little is known about the impact of resource booms on income inequal- ity in resource rich countries (Ross, 2007). This paper develops a simple theory, in the context of a two sector growth model in which learning-by-doing drives growth, to explain the time path of inequality following a resource boom. Under plausible con- ditions, we nd that income inequality will fall in the short run immediately after a boom, and will then increase steadily over time as the economy grows, unt...Expand abstract
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