Ruiz, Juan; Vilarrubia, Josep - Volkswirtschaftliche Fakultät, … - 2006
The continued rise in oil prices since 2002 has resulted in a significant increase in export revenue for oil exporting … higher imports, or the financial channel, via an increase in the net external asset position of these countries. Our results … show that around 50% of the windfall revenue has been used to increase imports, while the rest has been directed towards …
