Is resource abundance a blessing or a curse? Typically, in resource rich countries, domestic fuel prices are lower, and energy intensity of GDP is higher. But they have higher investment in R&D and fixed capital stock, larger foreign exchange reserves and more inflows of FDI. They also have...

This article seeks to test whether there is evidence that investment affects economic performance as measured by changes in GDP during transition: we find that differences in performance are associated mostly not with investment patterns but with varying marginal capital productivity. There is...