An Alternative Explanation for the Resource Curse : : The Income Effect Channel / / Ali Alichi, Rabah Arezki

• Autore: Alichi Ali
• Pubblicazione: Washington, D.C. : , : International Monetary Fund, , 2009
• Descrizione fisica: 1 online resource (26 p.)
• Soggetto topico: Resource curse; Economic development; Exports and Imports; Macroeconomics; Public Finance; Natural Resources; Methodology for Collecting, Estimating, and Organizing Macroeconomic Data; Data Access; Macroeconomic Analyses of Economic Development; One, Two, and Multisector Growth Models; Nonrenewable Resources and Conservation: General; National Government Expenditures and Related Policies: General; Aggregate Factor Income Distribution; International Investment; Long-term Capital Movements; Agricultural and Natural Resource Economics; Environmental and Ecological Economics: General; Public finance & taxation; International economics; Environmental management; Expenditure; Income; Current spending; Capital flows; Natural resources; National accounts; Balance of payments; Environment; Expenditures, Public; Capital movements
• Soggetto geografico: Nigeria
• Altri autori: ArezkiRabah
• Note generali: Description based upon print version of record.
• Nota di bibliografia: Includes bibliographical references.
• Nota di contenuto: 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 Statistics ; 6. 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 economies
• Sommario/riassunto: The 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.
• Titolo autorizzato: An Alternative Explanation for the Resource Curse
• ISBN: 1-4623-8907-4; 1-4527-0567-4; 9786612843273; 1-4518-7259-3; 1-282-84327-3
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910788334403321
• Lo trovi qui: Univ. Federico II
• Serie: IMF Working Papers; Working Paper ; ; No. 2009/112