Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/53130
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dc.contributor.authorArezki, Rabahen_US
dc.contributor.authorBrückner, Markusen_US
dc.date.accessioned2011-12-12en_US
dc.date.accessioned2011-12-14T12:18:22Z-
dc.date.available2011-12-14T12:18:22Z-
dc.date.issued2011en_US
dc.identifier.urihttp://hdl.handle.net/10419/53130-
dc.description.abstractThis paper examines the effects that windfalls from international commodity price booms have on net foreign assets in a panel of 145 countries during the period 1970-2007. The main finding is that windfalls from international commodity price booms lead to a significant increase in net foreign assets, but only in countries that are ethnically homogeneous. In highly ethnically polarized countries, net foreign assets significantly decreased. To explain this asymmetry, the paper shows that in ethnically polarized countries commodity windfalls lead to large increases in government consumption expenditures and political corruption. The paper's findings are consistent with theoretical models of the current account that have a built-in voracity effect.en_US
dc.language.isoengen_US
dc.publisher|aCenter for Economic Studies and Ifo Institute (CESifo) |cMunichen_US
dc.relation.ispartofseries|aCESifo working paper: Monetary Policy and International Finance |x3656en_US
dc.subject.jelF32en_US
dc.subject.jelQ33en_US
dc.subject.jelZ10en_US
dc.subject.ddc330en_US
dc.subject.keywordcommodity windfallsen_US
dc.subject.keywordnet foreign assetsen_US
dc.subject.keywordpolarizationen_US
dc.titleCommodity windfalls, polarization, and net foreign assets: Panel data evidence on the voracity effecten_US
dc.typeWorking Paperen_US
dc.identifier.ppn679523324en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US

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