This paper investigates the role of aid in mitigating the adverse effects of commodity export price shocks on growth in commodity-dependent countries.  Using a large cross-country dataset, we find that negative shocks matter for short-term growth, while the ex ante risk of shocks does not seem...

Currently, evidence on the 'resource curse' yields a conundrum.  While there is much cross-section evidence to support the curse hypothesis, time series analyses using vector autoregressive (VAR) models have found that commodity booms raise the growth of commodity exporters.  This paper adopts...

Many developing countries periodically face large adverse shocks to their economies.  We study two distinct types of such shocks - large declines in the price of a country's commodity exports and severe natural disasters - , both of which have occurred frequently in the recent past. ...

The authors investigate the role of aid in mitigating the adverse effects of commodity export price shocks on growth in commodity-dependent countries. Using a large cross-country dataset, they find that negative shocks matter for short-term growth, while the ex ante risk of shocks does not seem...

Developing countries frequently face large adverse shocks to their economies. We study two distinct types of such shocks: large declines in the price of a country’s commodity exports and severe natural disasters. Unsurprisingly, adverse shocks reduce the short-term growth of constant-price GDP...

Currently, evidence on the ‘resource curse’ yields a conundrum. While there is much cross section evidence to support the curse hypothesis, time series analyses using vector autoregressive (VAR) models have found that commodity booms raise the growth of commodity exporters. This paper adopts...

Those low-income countries that export non-agricultural commodities are in the midst of a resource transfer. It is undoubtedly the biggest opportunity for transformative development that these societies have experienced, dwarfing both aid and previous commodity booms. To get it in proportion, in...

Developing countries frequently face large adverse shocks to their economies. We study two distinct types of such shocks: large declines in the price of a country's commodity exports and severe natural disasters. Unsurprisingly, adverse shocks reduce the short-term growth of constant-price GDP...

Whereas empirical evidence on the effect of higher commodity prices on the long-run growth of commodity exporters is ambiguous, time series analyses using vector autoregressive (VAR) models have found that commodity booms raise income in the short run. In this paper we adopt panel error...