increasing it only cautiously. Volatility in domestic investment can to an extent be moderated by a buffer of international …

Cross-country evidence is presented on resource dependence and the link between volatility and growth. First, growth … depends negatively on volatility of unanticipated output growth independent of initial income per capita, the average … growth. Second, the adverse effect of resources on growth operates primarily through higher volatility. The positive effect …

volatility of revenues, have failed to save a sufficiently high proportion of their resource revenues and failed to make high …

the volatility of revenues and have failed to save a sufficiently high proportion of their resource revenues and failed to …

evidence that resource dependence leads to more volatility and thus indirectly to worse growth prospects. …

The volatility of unanticipated output growth in income per capita is detrimental to long-run development, controlling …. This effect is significant and robust over a wide range of specifications. We unravel the effects of volatility by opening … dependence, physical and institutional barriers to trade and associated policy shocks increase volatility sharply and harm growth …

Cross-country evidence is presented on resource dependence and the link between volatility and growth. First, growth … depends negatively on volatility of unanticipated output growth independent of initial income per capita, the average … growth. Second, the adverse effect of resources on growth operates primarily through higher volatility. The positive effect …