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Volatility and the natural resource curse

Frederick van der Ploeg and Steven Poelhekke.

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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