Volatility and the natural resource curse
in Oxford Economic Papers
October 2009; p ublished online July 2009 .
Journal Article. Subjects: Economic Development; Econometric and Statistical Methods and Methodology: General; Financial Institutions and Services; Economic Growth and Aggregate Productivity; Non-renewable Resources and Conservation; Single Equation Models; Single Variables; Macroeconomic Aspects of International Trade and Finance. 10908 words.
We provide cross-country evidence that rejects the traditional interpretation of the natural resource curse. First, growth depends negatively on volatility of unanticipated output growth...
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