| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w23169 |
| 来源ID | Working Paper 23169 |
| Revisiting the Commodity Curse: A Financial Perspective | |
| Enrique Alberola; Gianluca Benigno | |
| 发表日期 | 2017-02-27 |
| 出版年 | 2017 |
| 语种 | 英语 |
| 摘要 | We study the response of a three-sector commodity-exporter small open economy to a commodity price boom. When the economy has access to international borrowing and lending, a temporary commodity price boom brings about the standard wealth effect that stimulates demand and has long-run implications on the sectoral allocation of labour. If dynamic productivity gains are concentrated in the traded goods sector, the commodity boom crowds out the traded sector and delays convergence to the world technology frontier. Financial openness by stimulating current demand, amplifies the crowding out effect and may even lead to a growth trap, in which no resources are allocated to the traded sector. From a normative point of view, our analysis suggests that capital account management policies could be welfare improving in those circumstances. |
| 主题 | International Economics ; International Finance ; International Macroeconomics ; Development and Growth ; Development |
| URL | https://www.nber.org/papers/w23169 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/580860 |
| 推荐引用方式 GB/T 7714 | Enrique Alberola,Gianluca Benigno. Revisiting the Commodity Curse: A Financial Perspective. 2017. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w23169.pdf（538KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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