The Resource The financial resource curse, Gianluca Benigno and Luca Fornaro, (electronic resource)

The financial resource curse, Gianluca Benigno and Luca Fornaro, (electronic resource)

Label
The financial resource curse
Title
The financial resource curse
Statement of responsibility
Gianluca Benigno and Luca Fornaro
Creator
Contributor
Subject
Language
eng
Summary
This paper presents a model of financial resource curse, i.e. episodes of abundant access to foreign capital coupled with weak productivity growth. We study a two-sector, tradable and non-tradable, small open economy. The tradable sector is the engine of growth, and productivity growth is increasing in the amount of labor employed by firms in the tradable sector. A period of large capital inflows, triggered by a fall in the interest rate, is associated with a consumption boom. While the increase in tradable consumption is financed through foreign borrowing, the increase in non-tradable consumption requires a shift of productive resources toward the non-tradable sector at the expenses of the tradable sector. The result is stagnant productivity growth. We show that capital controls can be welfare-enhancing and can be used as a second best policy tool to mitigate the misallocation of resources during an episode of financial resource curse
Member of
Cataloging source
GZM
http://library.link/vocab/creatorName
Benigno, Gianluca
Illustrations
illustrations
Index
no index present
Literary form
non fiction
Nature of contents
  • dictionaries
  • bibliography
http://library.link/vocab/relatedWorkOrContributorName
  • Fornaro, Luca
  • Centre for Economic Policy Research (Great Britain)
Series statement
  • Discussion paper series,
  • International macroeconomics
Series volume
no. 9489
http://library.link/vocab/subjectName
  • Consumption (Economics)
  • Foreign exchange rates
Label
The financial resource curse, Gianluca Benigno and Luca Fornaro, (electronic resource)
Link
http://www.cepr.org.ezproxy.eui.eu/content/discussion-papers
Instantiates
Publication
Note
  • Title from www.cepr.org/pubs/dps/DP9489.asp viewed May 30, 2013
  • "May 2013."
  • "Submitted 07 May 2013."
Bibliography note
Includes bibliographical references (pages 23-26)
Carrier category
online resource
Carrier category code
cr
Carrier MARC source
rdacarrier.
Content category
text
Content type code
txt
Content type MARC source
rdacontent.
Control code
FIEb17469466
Extent
1 online resource (26 pages)
Form of item
online
Media category
computer
Media MARC source
rdamedia.
Media type code
c
Other physical details
illustrations.
Specific material designation
remote
System control number
(OCoLC)845066876
Label
The financial resource curse, Gianluca Benigno and Luca Fornaro, (electronic resource)
Link
http://www.cepr.org.ezproxy.eui.eu/content/discussion-papers
Publication
Note
  • Title from www.cepr.org/pubs/dps/DP9489.asp viewed May 30, 2013
  • "May 2013."
  • "Submitted 07 May 2013."
Bibliography note
Includes bibliographical references (pages 23-26)
Carrier category
online resource
Carrier category code
cr
Carrier MARC source
rdacarrier.
Content category
text
Content type code
txt
Content type MARC source
rdacontent.
Control code
FIEb17469466
Extent
1 online resource (26 pages)
Form of item
online
Media category
computer
Media MARC source
rdamedia.
Media type code
c
Other physical details
illustrations.
Specific material designation
remote
System control number
(OCoLC)845066876

Library Locations

    • Badia FiesolanaBorrow it
      Via dei Roccettini 9, San Domenico di Fiesole, 50014, IT
      43.803074 11.283055
Processing Feedback ...