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Author : Warner Max Corden
Publisher :
ISBN 13 : 9780868310794
Total Pages : 37 pages
Book Rating : 4.3/5 (17 download)
Download or read book Booming Sector and Dutch Disease Economics written by Warner Max Corden and published by . This book was released on 1982 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Roger Hosein
Publisher : Palgrave Macmillan
ISBN 13 : 9783030776718
Total Pages : 265 pages
Book Rating : 4.7/5 (767 download)
Download or read book Oil and Gas in Trinidad and Tobago written by Roger Hosein and published by Palgrave Macmillan. This book was released on 2022-08-09 with total page 265 pages. Available in PDF, EPUB and Kindle. Book excerpt: Oil and Gas in Trinidad and Tobago presents a historical economic review of the energy sector of Trinidad and Tobago, followed by a detailed evaluation of policies associated with resource abundance and the effects on the economy from various perspectives, including industrialization, labor productivity, education, export diversification, and competitiveness. This book utilizes a wide range of statistical data and methodologies to both economically and statistically analyze these issues at hand. The content of this book will be useful not only for policymakers but also for researchers and students interested in the field.
Author : Kareem Ismail
Publisher : International Monetary Fund
ISBN 13 : 145520062X
Total Pages : 38 pages
Book Rating : 4.4/5 (552 download)
Download or read book The Structural Manifestation of the ‘Dutch Disease’ written by Kareem Ismail and published by International Monetary Fund. This book was released on 2010-04-01 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study derives structural implications of the Dutch disease in oil-exporting countries due to permanent oil price shocks from a typical model. We then test these implications in manufacturing sector data across a wide group of countries including oil-exporters covering 1977 to 2004. The results on oil-exporting countries are four folds. First, we find that permanent increases in oil price negatively impact output in manufacturing as consistent with the Dutch disease. Second, Evidence in the data shows that oil windfall shocks have a stronger impact on manufacturing sectors in countries with more open capital markets to foreign investment. Third, we find that the relative factor price of labor to capital, and capital intensity in manufacturing sectors appreciate as windfall increases. Fourth, we find that manufacturing sectors with higher capital intensity are less affected by windfall shocks than their peers, possibly due to a larger share of the effect being absorbed by more laborintensive tradable sectors. An implication of the fourth result is that having diverse manufacturing sectors in capital intensity helps cushion the volatility of oil shocks.
Author : Prince Emeka Ndimele
Publisher : Academic Press
ISBN 13 : 0128096284
Total Pages : 487 pages
Book Rating : 4.1/5 (28 download)
Download or read book The Political Ecology of Oil and Gas Activities in the Nigerian Aquatic Ecosystem written by Prince Emeka Ndimele and published by Academic Press. This book was released on 2017-11-17 with total page 487 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Political Ecology of Oil and Gas Activities in the Nigerian Aquatic Ecosystem reviews the current status of the ecosystems and economic implications of oil and gas development in Nigeria, a key oil-producing state. The ecological and economic impacts of oil and gas development, particularly in developing nations, are crucial topics for ecologists, natural resource professionals and pollution researchers to understand. This book takes an integrative approach to these problems through the lens of one of the key oil-producing nations, linking natural and human systems through the valuation of ecosystem services. Provides background information on Nigerian aquatic environments, its local history of oil exploration and a review of the physical chemistry of crude oil Reviews global and national perspectives on the oil and gas industry from a physical ecological, to a socio-political and economic ecological perspective Demonstrates real-life situations of the interactions and impacts of Nigerian petroleum production on the environment and local populations through case studies
Author : Owen Matthew Barder
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book A Policymakers' Guide to Dutch Disease written by Owen Matthew Barder and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is sometimes claimed that an increase in aid might cause Dutch Disease - that is, an appreciation of the real exchange rate which can slow the growth of a country's exports - and that aid increases might thereby harm a country's long-term growth prospects. This essay argues that it is unlikely that a long-term, sustained and predictable increase in aid would, through the impact on the real exchange rate, do more harm than good, for three reasons. First, there is not necessarily an adverse impact on exports from Dutch Disease, and any impact on economic growth may be small. Second, aid spent in part on improving the supply side - investments in infrastructure, education, government institutions and health - result in productivity benefits for the whole economy, which can offset any loss of competitiveness from the Dutch Disease effect. Third, the welfare of a nation's citizens depends on their consumption and investment, not just output. Even on pessimistic assumptions, the additional consumption and investment which the aid finances is larger than any likely adverse impact on output. However, the macroeconomic effects of aid can cause substantial harm if the aid is not sustained until its benefits are realized. The costs of a temporary loss of competitiveness might well exceed the benefits of the short-term increase in aid. To avoid doing harm, aid should be sustained and predictable, and used in part to promote economic growth. This maximizes the chances that the long-term productivity and growth benefits will offset the adverse effects - which may be small if they exist at all - that big aid surges may pose as a result of Dutch Disease.
Author : Nienke Oomes
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 40 pages
Book Rating : 4.:/5 (318 download)
Download or read book Diagnosing Dutch Disease written by Nienke Oomes and published by International Monetary Fund. This book was released on 2007-04 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, we assess whether recent economic developments in Russia are symptomatic of Dutch Disease. We first provide a brief review of the literature on Dutch Disease and the natural resource curse. We then discuss the symptoms of Dutch Disease, which include (1) real exchange rate appreciation; (2) slower manufacturing growth; (3) faster service sector growth; and (4) higher overall wages. We test these predictions for Russia while carefully controlling for other factors that could have led to similar symptoms. We conclude that, while Russia has all of the symptoms, the diagnosis of Dutch Disease remains to be confirmed.
Author : Lorenz Meyenburg
Publisher : Diplomarbeiten Agentur
ISBN 13 : 3842805764
Total Pages : 172 pages
Book Rating : 4.8/5 (428 download)
Download or read book Developing indicators to diagnose Dutch Disease written by Lorenz Meyenburg and published by Diplomarbeiten Agentur. This book was released on 2010-10-25 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inhaltsangabe:Introduction: The term Dutch Disease (abbreviated to DD throughout the paper), introduced in 1977, refers to the adverse effects on Dutch manufacturing of the natural gas discoveries of the 1960s. The crucial sub-period from 1974 to 1979 after the oil price shock in 1973 / 1974 was then marked by a consumption driven booming government sector in the context of a European stagnation, and though this process in itself did not bear a disease character, the strong real appreciation due to an overvaluation of the Dutch Guilder and an inflexible labour market were at least the clearest possible signs of a disease. It is actually doubted that the DD is Dutch, but the existence of the DD as a general phenomenon is widely accepted in the literature. The fascination of the DD arises from its paradoxical nature that something intuitively good develops a dark side. There is a good side of every boom, its initial impact is beneficial and amounts to Pareto-improvement for the economy as a whole. This implies a rise in real living standards due to higher levels of public and private consumption and higher levels of investment (and savings). Windfalls, the linked fiscal revenues, and easier domestic and foreign borrowing can finance core public goods. Especially regarding developing countries, windfalls principally allow breaking out of the poverty trap: poverty lack of public finance lack of public goods lack of private investment poverty. Approaching the dark side, a favourable shock like a discovery of oil is a mixed blessing to developing countries, and research does not show a clear outperformance of the oil nations as a whole. The DD can be formulated as a provoking dilemma: Enjoy boom revenues to boost economic development while those revenues in fact turn out to be responsible for the economic stagnation through the deterioration of the tradeable sectors. The provoking nature of the DD runs the risk of being misused in the media in the longing for exciting economical statements, and a healthy mistrust should always accompany an alleged DD even in the literature, as the real problem can lie somewhere else in the dynamic economy. For example, in many countries, the downward trend in the share of manufacturing in national output is dominated by other reasons than a favourable shock. In general, policy choices can exacerbate or mitigate the DD, so that there is a direct connection, but the majority of influences rather works [...]
Author : Juan Yepez
Publisher : International Monetary Fund
ISBN 13 : 1513589741
Total Pages : 32 pages
Book Rating : 4.5/5 (135 download)
Download or read book Unintended Consequences of U. S. Monetary Policy Shocks: Dutch Disease and Capital Flow Measures in Emerging Markets and Developing Economies written by Juan Yepez and published by International Monetary Fund. This book was released on 2021-08-06 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Dutch disease is often referred as a situation in which large and sustained foreign currency inflows lead to a contraction of the tradable sector by giving rise to a real appreciation of the home currency. This paper documents that this syndrome has been witnessed by many emerging markets and developing economies (EMDEs) as a result of surges in capital inflows driven by accommodative U. S. monetary policy. In a sample of 25 EMDEs from 2000-17, U. S. monetary policy shocks coincided with episodes of currency appreciation and a contraction in tradable output in these economies. The paper also shows empirically that the use of capital flow measures (CFMs) has been a common policy response in several EMDEs to U.S. monetary policy shocks. Against this background, the paper presents a two sector small open economy augmented with a learning-by-doing (LBD) mechanism in the tradable sector to rationalize these empirical findings. A welfare analysis provides a rationale for the use of CFMs as a second-best policy when agents do not internalize the LBD externality of costly resource misallocation as a result of greater capital inflows. However, the adequate calibration of CFMs and the quantification of the LBD externality represent important implementation challenges.
Author : Achille Toto Same
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 37 pages
Book Rating : 4./5 ( download)
Download or read book mineral-rich countries and dutch disease: understanding the macroeconomic implications of windfalls and the development prospects the case of equatorial guinea written by Achille Toto Same and published by World Bank Publications. This book was released on 2008 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: Referring to the original context of Dutch Disease, the term refers to the fears of de-industrialization that gripped the Netherlands as a result of the appreciation of the Dutch currency that followed the discovery of natural gas deposits. Expansion of petroleum exports in the 1960s not only crowded out other exports, it actually reduced other exports disproportionately and fueled the fears of dire consequences for Dutch manufacturing. In the case of Equatorial Guinea, the secondary sector represents about 2 percent of the gross domestic product, manufacturing represents less than 1 percent, and oil represents more than 95 percent. The negative impact of the Dutch Disease in this context would be limited given the structure of the economy and on the contrary may even be a good thing because it fuels the structural transformational process of the economy, which is needed in Equatorial Guinea. This paper argues that the ongoing Dutch Disease is a natural and necessary reallocation of resources in the economy of Equatorial Guinea. The magnitude of negative macroeconomic consequences of the Dutch Disease depends on the country's economic structure and stage of development. In a country where the manufacturing sector barely exists or where the non-oil primary sector is structurally deficient, as has been the case of Equatorial Guinea, there is little to fear about the disease. The oil boom is a blessing, given that oil revenues when properly managed can play a special and critical role in overall economic development and poverty reduction in low-income countries. To promote good governance in the management of the country's oil wealth, the government may wish to adhere to clear standards of accountability and transparency; especially by complying with the Extractive Industries Transparency Initiative (EITI++).
Author : Julia Faltermeier
Publisher : International Monetary Fund
ISBN 13 : 147558931X
Total Pages : 36 pages
Book Rating : 4.4/5 (755 download)
Download or read book Foreign Exchange Intervention and the Dutch Disease written by Julia Faltermeier and published by International Monetary Fund. This book was released on 2017-03-27 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study the optimal foreign exchange (FX) intervention policy in response to a positive terms of trade shock and associated Dutch disease episode in a small open economy model. We find that during a Dutch disease episode tradable production drops below the socially optimal level, resulting in lower welfare under learningby- doing (LBD) externalities. FX reserves accumulation improves welfare by preventing a large appreciation of the real exchange rate and by inducing an efficient reallocation between the tradable and non-tradable sectors. For an empirically plausible parametrization of LBD externalities, the model predicts that in response to a 10 percent increase in commodity prices FX reserves should increase by 1.5 percent of GDP. We also find that the welfare gains from optimally using FX reserves are twice as high as the gains from relying only on monetary policy. These results suggest that FX intervention is a beneficial policy to counteract the loss of competitiveness during a Dutch disease episode.
Author : Mr.Ruy Lama
Publisher : International Monetary Fund
ISBN 13 : 1455202169
Total Pages : 45 pages
Book Rating : 4.4/5 (552 download)
Download or read book Is Exchange Rate Stabilization an Appropriate Cure for the Dutch Disease? written by Mr.Ruy Lama and published by International Monetary Fund. This book was released on 2010-08-01 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper evaluates how successful is a policy of exchange rate stabilization to counteract the negative effects of a Dutch Disease episode. We consider a small open economy model that incorporates nominal rigidities and a learning-by-doing externality in the tradable sector. The paper shows that leaning against an appreciated exchange rate can prevent an inefficient loss of tradable output but at the cost of generating a misallocation of resources in other sectors of the economy. The paper also finds that welfare is a decreasing function of exchange rate intervention. These results suggest that stabilizing the nominal exchange rate in response to a Dutch Disease episode is highly distortionary.
Author : Leif Wenar
Publisher : Oxford University Press
ISBN 13 : 0190262923
Total Pages : 553 pages
Book Rating : 4.1/5 (92 download)
Download or read book Blood Oil written by Leif Wenar and published by Oxford University Press. This book was released on 2016 with total page 553 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this sweeping book, one of today's leading political philosophers, Leif Wenar, goes behind the headlines in search of the hidden global rule that thwarts democracy and development-and that puts shoppers into business with some of today's most dangerous men.
Author : Mr.Rabah Arezki
Publisher : International Monetary Fund
ISBN 13 : 1451982712
Total Pages : 35 pages
Book Rating : 4.4/5 (519 download)
Download or read book Boom-Bust Cycle, Asymmetrical Fiscal Response and the Dutch Disease written by Mr.Rabah Arezki and published by International Monetary Fund. This book was released on 2010-04-01 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine the behavior of expenditure policy during boom-bust in commodity price cycles, and its implication for real exchange rate movements. To do so, we introduce a Dutch disease model with downward rigidities in government spending to revenue shock. This model leads to a decoupling between real exchange rate and commodity price movement during busts. We test our model's theoretical predictions and underlying assumptions using panel data for 32 oil-producing countries over the period 1992 to 2009. Results are threefold. First, we find that change in current spending have a stronger impact on the change in real exchange rate compared to capital spending. Second, we find that current spending is downwardly sticky, but increases in boom time, and conversely for capital spending. Third, we find limited evidence that fiscal rules have helped reduce the degree of responsiveness of current spending during booms. In contrast, we find evidence that fiscal rules are associated with a significant reduction in capital expenditure during busts while responsiveness to boosts is more muted. This raises concerns about potential adverse consequences of this asymmetry on economic performance in oil-producing countries.
Author : Didier Raoult
Publisher : CRC Press
ISBN 13 : 142001997X
Total Pages : 400 pages
Book Rating : 4.4/5 (2 download)
Download or read book Rickettsial Diseases written by Didier Raoult and published by CRC Press. This book was released on 2007-04-26 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: The only available reference to comprehensively discuss the common and unusual types of rickettsiosis in over twenty years, this book will offer the reader a full review on the bacteriology, transmission, and pathophysiology of these conditions. Written from experts in the field from Europe, USA, Africa, and Asia, specialists analyze specific patho
Author : Milan Brahmbhatt
Publisher :
ISBN 13 :
Total Pages : 7 pages
Book Rating : 4.:/5 (789 download)
Download or read book Dealing with Dutch Disease written by Milan Brahmbhatt and published by . This book was released on 2010 with total page 7 pages. Available in PDF, EPUB and Kindle. Book excerpt: This note looks at so-called Dutch disease, a phenomenon reflecting changes in the structure of production in the wake of a favorable shock (such as a large natural resource discovery, a rise in the international price of an exportable commodity, or the presence of sustained aid or capital inflows). Where the natural resources discovered are oil or minerals, a contraction or stagnation of manufacturing and agriculture could accompany the positive effects of the shock, according to the theory. The note considers channels through which such natural resource wealth can affect the economy. It also focuses on the development implications of Dutch disease, particularly the potential negative effects related to productivity dynamics and volatility; and concludes with a summary of possible policy responses, including the mix of fiscal, exchange rate, and structural reform policies.
Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1463931174
Total Pages : 45 pages
Book Rating : 4.4/5 (639 download)
Download or read book Commodity Price Volatility and the Sources of Growth written by International Monetary Fund and published by International Monetary Fund. This book was released on 2012-01-01 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the impact of the level and volatility of the commodity terms of trade on economic growth, as well as on the three main growth channels: total factor productivity, physical capital accumulation, and human capital acquisition. We use the standard system GMM approach as well as a cross-sectionally augmented version of the pooled mean group (CPMG) methodology of Pesaran et al. (1999) for estimation. The latter takes account of cross-country heterogeneity and cross-sectional dependence, while the former controls for biases associated with simultaneity and unobserved country-specific effects. Using both annual data for 1970-2007 and five-year non-overlapping observations, we find that while commodity terms of trade growth enhances real output per capita, volatility exerts a negative impact on economic growth operating mainly through lower accumulation of physical capital. Our results indicate that the negative growth effects of commodity terms of trade volatility offset the positive impact of commodity booms; and export diversification of primary commodity abundant countries contribute to faster growth. Therefore, we argue that volatility, rather than abundance per se, drives the "resource curse" paradox.
Author : C.P. Dunn
Publisher : Springer Science & Business Media
ISBN 13 : 9780792377245
Total Pages : 386 pages
Book Rating : 4.3/5 (772 download)
Download or read book The Elms written by C.P. Dunn and published by Springer Science & Business Media. This book was released on 2000-01-31 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt: Elms occur, both naturally and cultivated, throughout much of the temperate world. Because of their high tolerance to extreme growing conditions and their widespread distribution, elms have been widely planted in cities, towns and rural areas throughout North America and northern Europe. As such, their current demise due to several pandemics of Dutch elm disease has spurred a huge body of research on breeding for disease resistance, conservation and systematics. The Elms: Breeding, Conservation and Disease Management provides the current state of knowledge in these areas and is an important reference work for pathologists, breeders, taxonomists, and arborists.
