| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP11872 |
| DP11872 Follow the money: Does the financial sector intermediate natural resource windfalls? | |
| Thorsten Beck; Steven Poelhekke | |
| 发表日期 | 2017-02-22 |
| 出版年 | 2017 |
| 语种 | 英语 |
| 摘要 | The need to absorb windfalls gains and manage them appropriately has been discussed extensively by academics and policy makers alike. We explore the role of the financial sector in intermediating these windfalls.. Controlling for the level of financial development, inflation, GDP growth and country fixed-effects, we find a relative decline in financial sector deposits in countries that experience an unexpected natural resource windfall as measured by shocks to exogenous world prices. Moreover, we find a similar relative decline in lending, which is mostly due to the decrease in deposits. The smaller role for the financial sector in intermediating resource booms is accompanied by a stronger role of governments in channeling resources into the economy, mostly through higher government consumption. |
| 主题 | Financial Economics |
| 关键词 | Natural resources Financial development Banking |
| URL | https://cepr.org/publications/dp11872 |
| 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/540684 |
| 推荐引用方式 GB/T 7714 | Thorsten Beck,Steven Poelhekke. DP11872 Follow the money: Does the financial sector intermediate natural resource windfalls?. 2017. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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