Traditional studies of the Dutch disease do not account for productivity spillovers between
the booming resource sector and other domestic sectors. We put forward a simple theory …

The novelty of this study is that it empirically tests four hypotheses of the Dutch Disease in
the Azerbaijan economy while systematically controls for other possible explanations of the …

We propose a structural dynamic factor model of a small commodity-exporting economy,
using Canada as a representative case study. Combining large panel datasets of the global …

This paper investigates the changes in expenditure policy in oil-exporting countries during
boom–bust in commodity price cycles, and their implications for real exchange rate …

Kazakhstan possesses extensive natural resource reserves expected to yield significant
export revenues. Since independence in 1991, the composition of exports has changed in …

For several decades, economists have endeavored to determine whether a sudden surge in
mineral and energy extraction activity poses an albatross or boon to an economy. The …

Although the core model of the Dutch Disease makes unambiguous predictions regarding
the negative effect of a resource boom on a country's manufacturing exports, the empirical …

Foreign aid, the real exchange rate (RER), and economic growth are three key variables that
shape the aftermath of civil wars in many developing countries. Panel estimations drawn …

The permanent income hypothesis implies that frictionless open economies with exhaustible
natural resources should save abroad most of their resource windfalls and, therefore, feature …

Is the relationship between the current account balance and the terms of trade affected by
the persistence of terms of trade shocks? In intertemporal models of the current account that …