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Exogenous Oil Shocks, Fiscal Policy and Sector Reallocations in Oil Producing Countries AgEcon
Cologni, Alessandro; Manera, Matteo.
Previous literature has suggested that different mechanisms of transmission of exogenous oil shocks are responsible for the negative effects on the economic performances of oil exporting countries. This paper aims at providing further evidence on the role of sectoral reallocation between private and public sectors in explaining the impact of shocks to oil revenues on the economic growth rates of major oil producing countries (namely the GCC - Gulf Corporation Council - countries). The effects of oil shocks and expansionary fiscal policy on the business cycle of oil producing countries are examined. The possibility to distinguish between various components of public sector spending policy (that is, purchases of consumption goods, investments in productive...
Tipo: Working or Discussion Paper Palavras-chave: Oil Shocks; Dutch Disease; Resource Curse and Real Business Cycle Modelling; Resource /Energy Economics and Policy; C61; E22; E62; Q48.
Ano: 2011 URL: http://purl.umn.edu/115726
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