Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/53130 
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dc.contributor.authorArezki, Rabahen
dc.contributor.authorBrückner, Markusen
dc.date.accessioned2011-12-12-
dc.date.accessioned2011-12-14T12:18:22Z-
dc.date.available2011-12-14T12:18:22Z-
dc.date.issued2011-
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
dc.language.isoengen
dc.publisher|aCenter for Economic Studies and ifo Institute (CESifo) |cMunichen
dc.relation.ispartofseries|aCESifo Working Paper |x3656en
dc.subject.jelF32en
dc.subject.jelQ33en
dc.subject.jelZ10en
dc.subject.ddc330en
dc.subject.keywordcommodity windfallsen
dc.subject.keywordnet foreign assetsen
dc.subject.keywordpolarizationen
dc.titleCommodity windfalls, polarization, and net foreign assets: Panel data evidence on the voracity effect-
dc.typeWorking Paperen
dc.identifier.ppn679523324en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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