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The Local Economic Impacts of Resource Abundance : What Have We Learned?

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World Bank (WB)

Abstract: What are the socioeconomic impacts of resource abundance? Are these effects different at the national and local levels? How could resource booms benefit (or harm) local communities? This paper reviews a vast literature examining these questions, with an emphasis on empirical works. First, the evidence and theoretical arguments behind the so-called resource curse, and other impacts at the country level, are reviewed. This cross-country literature highlights the importance of institutions. Then, a simple analytical framework is developed to understand how resource booms could impact local communities, and the available empirical evidence is examined. This emerging literature exploits within-country variation and is opening new ways to think about the relation between natural resources and economic development. The main message is that others factors, such as market mechanisms and local spillovers, are also relevant for understanding the impact of resource abundance. Finally, the paper discusses issues related to fiscal decentralization and provides ideas for future research.
Type: Working Paper
Publications & Research
Publications & Research :: Policy Research Working Paper
Link: http://hdl.handle.net/10986/21995
Subject: MONETARY POLICY
ENVIRONMENTAL QUALITY
INTERGENERATIONAL EQUITY
ECONOMIC GROWTH
TECHNOLOGICAL PROGRESS
PRODUCTION
ENVIRONMENTAL PROTECTION
MULTIPLIERS
AIR QUALITY
PERVERSE INCENTIVES
CARBON
INCOME
ECONOMIC WELFARE
AGRICULTURAL PRODUCTION
NITROGEN OXIDES
PRODUCERS
PROPERTY RIGHTS
HEAVY METALS
MACROECONOMIC POLICY
LABOR FORCE
LIQUIDITY
EXPORTS
EMISSIONS
POLITICAL ECONOMY
REVENUES
WELFARE
ENVIRONMENTAL REGULATIONS
ECONOMIC EFFECTS
INCENTIVES
EQUILIBRIUM
VARIABLES
TAX SYSTEMS
MODELS
EMPIRICAL STUDIES
REAL INCOME
INPUTS
REAL WAGES
RETURNS TO SCALE
WEALTH
INPUT PRICES
AGRICULTURAL OUTPUT
DEVELOPED COUNTRIES
SOCIOECONOMIC IMPACTS
INCREASING RETURNS TO SCALE
EMPIRICAL ANALYSIS
ECONOMIC ACTIVITY
DEVELOPMENT
OIL PRICES
COSTS
VOTERS
OIL
AIR POLLUTION
CROWDING OUT
DEVELOPMENT ECONOMICS
WELFARE EFFECTS
POPULATION GROWTH
CORPORATE INCOME TAXES
RENT
CAPITAL FORMATION
FIXED COSTS
EXCHANGE RATES
PRODUCTIVITY
OPTIONS
LABOR PRODUCTIVITY
EXTERNALITIES
INDUSTRIALIZATION
INCREASING RETURNS
DEMOCRATIC INSTITUTIONS
MARKET MECHANISM
DEBT
MARKETS
POLLUTION
ECONOMIC POLICIES
ENVIRONMENTAL ECONOMICS
NATURAL RESOURCES
GROSS DOMESTIC PRODUCT
METALS
EFFICIENCY
FISHING
FOOD PRODUCTION
TAXES
CANCER
LAND USE
RESOURCES
UNEMPLOYMENT
EQUITY
PRODUCTIVITY GROWTH
HUMAN CAPITAL
OPPORTUNITY COST
ECONOMIC IMPACT
ECONOMIC PERFORMANCE
CAPITAL
WAGES
COMPLIANCE COSTS
VALUE
POLICY MAKERS
AIR POLLUTION CONTROL
ENVIRONMENTAL IMPACTS
PURCHASING POWER
COMPARATIVE ADVANTAGES
DEMAND
MINES
AGGREGATE DEMAND
PUBLIC EXPENDITURES
ECONOMY
ENVIRONMENTS
EXPENDITURES
PROPERTY
CORPORATE TAXES
GROWTH MODELS
MEASUREMENT
ENVIRONMENT
SOIL DEGRADATION
ECONOMICS
ECONOMIC MODELS
TERMS OF TRADE
TAX REVENUE
SIDE EFFECTS
ECONOMIC DEVELOPMENT
TRADE
GDP
GOODS
LAND
ECONOMIES OF SCALE
INVESTMENT
COMPARATIVE ADVANTAGE
POSITIVE EXTERNALITIES
COAL
WATER POLLUTION
DECENTRALIZATION
REVENUE
POLLUTION CONTROL
OVERVALUATION
EMPIRICAL EVIDENCE
LIVING CONDITIONS
ECONOMISTS
PRICE INDEXES
PROFITS
ENVIRONMENTAL
ACID RAIN
LABOR MARKETS
OUTCOMES
OPEN ECONOMIES
PUBLIC GOOD
PRICES
NEGATIVE EXTERNALITIES
BENEFITS
ECONOMIES
DEVELOPMENT POLICY
PUBLIC GOODS
FUTURE RESEARCH




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