Why is governance in resource-rich countries so poor? This paper argues that it is because governments in these countries do not rely on taxation, which is an important instrument for citizens to hold...
Dutch Disease is a condition in which a sudden increase of resource wealth from an extractive sector (such as oil, gas, coal, or mining) undermines other areas of the economy (such as agriculture, manufacturing...
Armenia, Georgia, the Kyrgyz Republic, and Tajikistan have all experienced substantial out-migration of workers and an associated inflow of workers' remittances over the past two decades. These four countries...
This paper investigates the scale, causes, and timing of significant episodes of industrialization and deindustrialization in Sub-Saharan Africa. Recent studies have argued that the turning point of manufacturing...
This paper analyses the evolution of fiscal and monetary variables in Ghana, from the discovery of oil in 2007 through to 2014. It documents the deterioration of fiscal and monetary discipline over this...
This paper uses a computable general equilibrium model -- Maquette for Millennium Development Goal Simulations (MAMS) -- calibrated to Mongolia to investigate how the development of major mining projects...
Oil discoveries can constitute a major positive and exogenous shock to economic activity, but the resource curse hypothesis would suggest they might also be detrimental to growth over the long run. This...
Seminal arguments in political economy hold that citizens will more readily demand accountability from governments for taxes than for non-tax revenue from oil or aid. Two identical experiments on large...
This paper studies the question of whether exchange rate policy affects the impact of remittances on economic growth in recipient countries. The paper utilizes a comprehensive data set that comprises annual...
In low-income, capital-scarce economies that face financial and fiscal constraints, managing revenues from newly found natural resources can be a daunting challenge. The policy debate is how to scale up...
How should resource-dependent countries respond (fiscally) to resource price volatility? This paper studies what determines revenue allocation between a "spend today" strategy and a "save now-spend tomorrow"...
Nepal's trade balance in goods and services has been in deficit for many years. The large deficit has not resulted in a substantial accumulation of net foreign liabilities, as it has been largely financed...
The acceleration of natural resource discoveries across many parts of the developing world has highlighted the urgent need for solutions to the mismanagement of windfalls that has blighted many countries...