G2TT
来源类型Discussion paper
规范类型论文
来源IDDP5657
DP5657 How Far Are We From the Slippery Slope? The Laffer Curve Revisited
Harald Uhlig; Mathias Trabandt
发表日期2006-05-28
出版年2006
语种英语
摘要The political economy of resource rich countries is surveyed. The empirical evidence suggests that countries with a large share of primary exports in GNP have bad growth records and high inequality, especially if the quality of institutions and the rule of law are bad. The economic argument that a resource bonanza induces appreciation of the real exchange rate and a decline of non-resource export sectors may have some relevance. More important, a resource boom reinforces rent grabbing, especially if institutions are bad, and keeps in place bad policies. Optimal resource management may make use of the Hotelling rule and the Hartwick rule. However, a recent World Bank study suggests that resource rich economies squander their natural resource wealth and more often have negative genuine saving rates. Still, countries such as Botswana, Canada, Australia and Norway suggest it is possible to escape the resource curse. Some practical suggestions for a better management of natural resources are offered.
主题International Macroeconomics
关键词Resource curse Cross-country and panel evidence Growth record Dutch disease Dependent economy Real exchange rate Debt overhang Corruption Rule of law Institutions
URLhttps://cepr.org/publications/dp5657
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/534536
推荐引用方式
GB/T 7714
Harald Uhlig,Mathias Trabandt. DP5657 How Far Are We From the Slippery Slope? The Laffer Curve Revisited. 2006.
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