Macroeconomic and Sectoral Effects of Terms-of-Trade Shocks : The Experience of the Oil-Exporting Developing Countries.
This paper investigates the impact of long-run terms-of-trade shocks. Analytically, we show that, if capital goods are largely importable or the labor supply is sufficiently elastic, then natural-resource booms increase aggregate investment and worsen the current account, but Dutch 'Disease...
| Collectivité auteur: | |
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| Format: | Revue |
| Langue: | English |
| Publié: |
Washington, D.C. :
International Monetary Fund,
1999.
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| Collection: | IMF Working Papers; Working Paper ;
No. 1999/134 |
| Accès en ligne: | Full text available on IMF |