Natural resource access and local economic growth
Publikation: Bidrag til tidsskrift › Tidsskriftartikel › Forskning › fagfællebedømt
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Natural resource access and local economic growth. / Gradstein, Mark; Klemp, Marc.
I: European Economic Review, Bind 127, 103441, 08.2020.Publikation: Bidrag til tidsskrift › Tidsskriftartikel › Forskning › fagfællebedømt
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TY - JOUR
T1 - Natural resource access and local economic growth
AU - Gradstein, Mark
AU - Klemp, Marc
PY - 2020/8
Y1 - 2020/8
N2 - We explore the existence of a local “resource curse” related to Brazil's oil, using oil price annual changes interacted with measures of local proximity to oil reserves. We find that oil royalty-receiving locations in Brazil that are closer to an oil field are characterized by a higher level of income per capita, when controlling for a range of potentially confounding factors. Furthermore, in a panel setting, we find that better geographical access to oil fields generates a greater positive effect of oil prices on local income per capita. Moreover, this positive impact of oilfield proximity on the effect of oil prices is enhanced in oil rich states. Importantly, these effects appear to be independent of the amount of oil royalties, suggesting the role of an indirect linkage effect.
AB - We explore the existence of a local “resource curse” related to Brazil's oil, using oil price annual changes interacted with measures of local proximity to oil reserves. We find that oil royalty-receiving locations in Brazil that are closer to an oil field are characterized by a higher level of income per capita, when controlling for a range of potentially confounding factors. Furthermore, in a panel setting, we find that better geographical access to oil fields generates a greater positive effect of oil prices on local income per capita. Moreover, this positive impact of oilfield proximity on the effect of oil prices is enhanced in oil rich states. Importantly, these effects appear to be independent of the amount of oil royalties, suggesting the role of an indirect linkage effect.
KW - Local resource curse
KW - Oil price shocks
KW - Resource access
U2 - 10.1016/j.euroecorev.2020.103441
DO - 10.1016/j.euroecorev.2020.103441
M3 - Journal article
AN - SCOPUS:85086703234
VL - 127
JO - European Economic Review
JF - European Economic Review
SN - 0014-2921
M1 - 103441
ER -
ID: 245501625