This paper extends the World Bank's Long-Term Growth Model (LTGM) with the addition of a natural resource sector to analyze how long-run growth evolves in resource-rich countries and the growth impacts of price shocks and resource discoveries. In the LTGM-Natural Resource Extension (LTGM-NR), commodity price shocks affect long-term economic growth through physical investment rates. As a large share of resource income typically accrues to the government...
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2022/03/14
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Рабочий документ в рамках исследования вопросов политики
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WPS9965
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1
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1
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2022/03/14
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Disclosed
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Assessing the Effects of Natural Resources on Long-Term Growth : An Extension of the World Bank Long Term Growth Model
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development research group
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