This paper studies the long-run effects of foreign tourism on local labor markets and economic development in advanced economies, using Italy as a case study. To isolate plausibly exogenous variation in tourist arrivals, I construct a shift-share measure that interacts changes in outbound...

Because of convergence, initial income is an important explanatory variable in many growth regressions. Its omission can lead to misspecification bias that may seem to – but still does not – contradict the common albeit somewhat controversial empirical finding that natural resources, if not...

Research background: Algeria heavily relies on its oil revenues, being one of the leading crude oil producers in Africa and a key member of OPEC. This dependency exposes its economy to the volatility of oil prices in international markets, which can have significant repercussions on its...

When wealth or income rises suddenly, the propensity for that "easy money" to be directed towards unproductive use, "easy spending", may rise. The cross-country relationship between conspicuous consumption and revenue windfalls is explored by estimating the response of demand for imports of...

Economic super-powers are racing to control critical minerals in developing economies fueling conflict, environmental damage and poverty. In this paper, we first explore what could well constitute a new “critical minerals curse”. We then highlight the dualism of institutions required for...

Managers ("bosses") are central to the development and allocation of human capital in firms because they train employees and learn about their abilities. While a multi-divisional firm wants to allocate workers to wherever they are most productive, bosses who are rewarded for their units'...

This article models banking under the condition of fiscal dominance or monetised-fiscal deficits, and explains why resource-based economies experience a financial resource curse. The evidence shows that commodity price shocks engender premature deindustrialisation, reduce loan-deposit ratios and...

Pakistan is one of the largest recipients of remittances globally and has substantial remittance inflow fluctuations; thus, finding the remittance-gross domestic product (GDP) ratio threshold is expedient. This study examined the macroeconomic impacts of emigrant remittances in Pakistan using a...

This paper analyzes the effect of commodity price fluctuations on a commodity-exporting economy. Using Chilean and international copper market data, I find that positive copper price changes resulting from copper-specific demand shocks generate a broad GDP expansion, with no visible decline in...

This study explores the role of tariffs in addressing the Dutch Disease effect in resource-rich developing economies. By developing a theoretical framework built on existing literature, the study explores the role that the structure of taxes, internationally, can play in mitigating the adverse...

To investigate how spatial heterogeneity affects the so-called "resource curse" in China, we combine a careful selection of indicators with the concept of resource industry spatial agglomeration (RISA) as a proxy for resource abundance and dependency. To address RISA heterogeneity among regions,...

In a world transitioning towards decarbonization, resource-rich countries (RRCs) face unique challenges in shaping their fiscal policy frameworks, necessitating significant adjustments. This paper analyzes the effects of decarbonization on the fiscal policies of RRCs, focusing on the...

There is extensive evidence of the impact of natural resource windfalls on violence. However, most of the literature focuses on civil conflict and civil wars and less is known about how resource booms affect other forms of violence and crime. In this paper, I examine the impact of Mexico’s...

The topic of natural resources has been widely discussed since the negative relationship between natural resource abundance and economic growth was empirically proved. Many scientists believe that this negative relationship is caused by institutional factors presented in a country rich in...

It has often been argued that countries that produce natural resources mobilize less non-resource tax revenues than other countries. In this paper, we exploit the exogenous variation in the timing of giant oilfield discoveries to estimate the causal impact of natural resources on taxation. The...

Petroleum-producing countries face unique challenges in meeting global emissions targets. As global petroleum consumption declines, these nations must reallocate resources and phase out a historically profitable industry. This study examines Norway's economic transformation resulting from a...

This paper investigates the similarities between the economy of 1912 Mount Lebanon on the eve of the famine of 1916 and the economy of 2004 Lebanon that set the stage for the major economic and social crisis of 2019. A simple general equilibrium simulation shows that, as long as the Lebanese...

The evidence suggests that resource-rich countries tend to exhibit a relatively constant level of economic complexity, with limited progress. To investigate the underlying causes of this phenomenon, we employed a Pooled Mean Group (PMG) model using data from the top 20 resource-rich economies...