05968oam 22012974 450 991081762910332120240402051240.01-4623-8907-41-4527-0567-497866128432731-4518-7259-31-282-84327-3(CKB)3170000000055270(EBL)1608303(SSID)ssj0000940042(PQKBManifestationID)11483766(PQKBTitleCode)TC0000940042(PQKBWorkID)10946570(PQKB)10050560(OCoLC)649718522(MiAaPQ)EBC1608303(IMF)WPIEE2009112(EXLCZ)99317000000005527020020129d2009 uf 0engurcn|||||||||txtccrAn Alternative Explanation for the Resource Curse : The Income Effect Channel /Ali Alichi, Rabah Arezki1st ed.Washington, D.C. :International Monetary Fund,2009.1 online resource (26 p.)IMF Working PapersDescription based upon print version of record.1-4519-1689-2 Includes bibliographical references.Contents; I. Introduction; Tables; 1. Composition of Government Expenditures in Oil Exporting; II. A Simple Model; A. Closed Economy; Figures; 1. Non-Hydrocarbon GDP Growth and Government Current Spending; 2. Transition Paths; B. Openness and Resource Curse; C. Altruism and Resource Curse; III. Empirical Investigation; A. Empirical Methodology; 3. Resource Curse Channels; B. Results; 2. Growth Regressions; IV. Conclusion; 3. Growth Regressions using Restrictions on Trade and Capital Flows; References; Appendices; A. Data; Appendix Tables; 4. Data Description; 5. Descriptive Statistics6. List of Countries Included in the Sample B. Testing for Whether a Higher Degree of Altruism Dampens the Adverse Effect of Government Current Spending on Non-Hydrocarbon GDP Growth; 7. Growth Regressions using Regional Dummies; C. Regional integration of two large open economiesThe paper provides an alternative explanation for the "resource curse" based on the income effect resulting from high government current spending in resource rich economies. Using a simple life cycle framework, we show that private investment in the non-resource sector is adversely affected if private agents expect extra government current spending financed through resource sector revenues in the future. This income channel of the resource curse is stronger for countries with lower degrees of openness and forward altruism. We empirically validate these findings by estimating non-hydrocarbon sector growth regressions using a panel of 25 oil-exporting countries over 1992-2005.IMF Working Papers; Working Paper ;No. 2009/112Resource curseEconomic developmentExports and ImportsimfMacroeconomicsimfPublic FinanceimfNatural ResourcesimfMethodology for Collecting, Estimating, and Organizing Macroeconomic DataimfData AccessimfMacroeconomic Analyses of Economic DevelopmentimfOne, Two, and Multisector Growth ModelsimfNonrenewable Resources and Conservation: GeneralimfNational Government Expenditures and Related Policies: GeneralimfAggregate Factor Income DistributionimfInternational InvestmentimfLong-term Capital MovementsimfAgricultural and Natural Resource EconomicsimfEnvironmental and Ecological Economics: GeneralimfPublic finance & taxationimfInternational economicsimfEnvironmental managementimfExpenditureimfIncomeimfCurrent spendingimfCapital flowsimfNatural resourcesimfNational accountsimfBalance of paymentsimfEnvironmentimfExpenditures, PublicimfCapital movementsimfNigeriaimfResource curse.Economic development.Exports and ImportsMacroeconomicsPublic FinanceNatural ResourcesMethodology for Collecting, Estimating, and Organizing Macroeconomic DataData AccessMacroeconomic Analyses of Economic DevelopmentOne, Two, and Multisector Growth ModelsNonrenewable Resources and Conservation: GeneralNational Government Expenditures and Related Policies: GeneralAggregate Factor Income DistributionInternational InvestmentLong-term Capital MovementsAgricultural and Natural Resource EconomicsEnvironmental and Ecological Economics: GeneralPublic finance & taxationInternational economicsEnvironmental managementExpenditureIncomeCurrent spendingCapital flowsNatural resourcesNational accountsBalance of paymentsEnvironmentExpenditures, PublicCapital movements332.1Alichi Ali1599382Arezki Rabah1595842International Monetary Fund.DcWaIMFBOOK9910817629103321An Alternative Explanation for the Resource Curse3922030UNINA