Oil discoveries can constitute a major positive and exogenous shock to economic activity, but the resource curse hypothesis would suggest they might also be detrimental to growth over the long run. This paper utilizes a new methodology for estimating growth underperformance to examine the extent to which discoveries depress the growth path of a country following a discovery and prior to production starting. The study finds causal evidence of a significant...
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2017/07/10
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Documento de trabalho sobre pesquisa de políticas
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WPS8140
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1
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1
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2017/07/10
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Disclosed
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Evidence for a presource curse ? oil discoveries, elevated expectations, and growth disappointments
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oil discovery
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