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The "fiscal presource curse" : giant discoveries and debt sustainability

Ruzzante, Matteo; Souza Sobrinho, Nelson Ferreira - 2022

-2012, with a global repository of giant oil, gas, and mineral discoveries. We find strong and robust evidence of a 'fiscal … presource curse', id est, natural resources can jeopardize fiscal sustainability even before 'the first drop of oil is pumped …'. Specifically, we find that giant discoveries, mostly of oil and gas, lead to permanently higher government debt and, eventually …

Persistent link: https://www.econbiz.de/10013170580

Sharing resource wealth inclusively within and across generations

Pouokam, Nathalie - 2021

This paper discusses the main challenges faced by resource-rich nations in promoting equity; describes policy tools available for managing exhaustible natural resources; and analyzes the relationship between resource wealth and state fragility. It is argued that human capital accumulation,...

Persistent link: https://www.econbiz.de/10012604778

Winning connections? : special interests and the sale of failed banks

Igan, Deniz; Lambert, Thomas; Wagner, Wolf; Zhang, Quxian - 2017

We study how lobbying affects the resolution of failed banks, using a sample of FDIC auctions between 2007 and 2014. We show that bidding banks that lobby regulators have a higher probability of winning an auction. In addition, the FDIC incurs higher costs in such auctions, amounting to 16.4...

Persistent link: https://www.econbiz.de/10011763817

Doing more for less? : new evidence on lobbying and government contracts

Agca, Senay; Igan, Deniz; Li, Fuhong; Mishra, Prachi - 2019

Why do firms lobby? This paper exploits the unanticipated sequestration of federal budget accounts in March 2013 that reduced the availability of government funds disbursed through procurement contracts to shed light on this question. Following this event, firms with little or no prior exposure...

Persistent link: https://www.econbiz.de/10012103562

Leadership Contestability, Monopolistic Rents and Growth

Piazza, Roberto - 2011

I construct an endogenous growth model where R&D is carried out at the industry level in a game of innovation between leaders and followers. Innovation costs for followers are assumed to increase with the technological lag from leaders. We obtain three results that contrast with standard...

Persistent link: https://www.econbiz.de/10014400811

Rent Seeking

Chakraborty, Shankha - 2005

This paper examines the relationship between rent seeking and economic performance when governments cannot enforce property rights. With imperfect credit markets and a fixed cost of rent seeking, only wealthy agents choose to engage in it, since it enables them to protect their wealth from...

Persistent link: https://www.econbiz.de/10014401029

What Transparency Can Do When Incentives Fail : An Analysis of Rent Capture

Paul, Elisabeth - 2006

This paper analyzes the pervasiveness and persistence of rent seeking, misgovernance, and public sector inefficiency in many developing and transition economies. We formalize evidence from country experiences and empirical studies into a stylized analytical framework that reflects realistic...

Persistent link: https://www.econbiz.de/10014401974

Rent Seeking and Endogenous Income Inequality

Wade, Paul - 2001

This paper studies the relationship between wealth inequality and occupational choice between rent-seeking and production. With imperfect credit markets and a fixed cost to rent-seeking, only wealthy agents choose to engage in rent-seeking as it enables them to protect their wealth from...

Persistent link: https://www.econbiz.de/10014403639

Debt Sustainability, Public Investment, and Natural Resources in Developing Countries : the DIGNAR Model

Melina, Giovanni - 2014

This paper presents the DIGNAR (Debt, Investment, Growth, and Natural Resources) model, which can be used to analyze the debt sustainability and macroeconomic effects of public investment plans in resource-abundant developing countries. DIGNAR is a dynamic, stochastic model of a small open...

Persistent link: https://www.econbiz.de/10014411171

Harnessing Resource Wealth for Inclusive Growth in Fragile States

2015 - Delechat, Corinne ; Clark, Will ; Gupta, Pranav ; Kabedi-Mbuyi, Malangu ; Koulet-Vickot, Mesmin ; Macario, Carla ; Orav, Toomas ; Rosales, Manuel ; Tapsoba, Rene ; Zhdankin, Dmitry ; Yang, Susan ed

Like other fragile sub-Saharan African countries, C�te d'Ivoire, Guinea, Liberia, and Sierra Leone are seeking to harness their natural resource potential in the context of ambitious development strategies. This study investigates options for scaling up public investment and expanding social...

Persistent link: https://www.econbiz.de/10014411897