Booming Sector and De-Industrialisation in a Small Open Economy
Warner Max Corden,J.P. Neary +1 more
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In this article, the authors present a theoretical analysis of the Dutch Disease, the phenomenon whereby a boom in one traded goods sector squeezes porfitability in other traded goods sectors, both by directly and indirectly.Abstract:
This paper presents a theoretical analysis of the 'Dutch Disease': the phenomenon whereby a boom in one traded goods sector squeezes porfitability in other traded goods sectors, both by directly bi ...read more
Figures
Figure 4. Effects of the boom on prices when capital is mobile between all three sectors. 
Table 2. Effects of the boom on prices when capital is mobile between all three sectors. 
Table A.1. Effects of the boom when capital is mobile between all three sectors. 
Figure I. Impact of the boom on the labour market. Traded goods 
Figure 2. Impact of the boom on the commodity market. 
Figure 5. Factor-market effects of the boom when capital is mobile between all three sectors.
Citations
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Booming sector and dutch disease economics: survey and consolidation
TL;DR: In this paper, a growing literature on booming sector economics and the Dutch Disease has been consolidated, and the authors aim to fill some theoretical gaps, notably in sections 5 (immigration), 6 (endogenous terms of trade effects), 7 (domestic absorption) and 10 (dynamics).
Book
Advanced International Trade : Theory and Evidence Ed. 2
TL;DR: The Advanced International Trade (AIT) as discussed by the authors is a classic graduate textbook in international trade that has been used widely by students and practitioners of economics for a long time to come.
Journal ArticleDOI
The Political Economy of the Resource Curse
TL;DR: This paper reviewed a wide range of recent attempts in both economics and political science to explain the "resource curse" and found that much has been learned about the economic problems of resource exporters but less is known about their political problems.
Posted Content
Natural Resources: Curse or Blessing?
TL;DR: This paper surveys a variety of hypotheses and supporting evidence for why some countries benefit and others lose from the presence of natural resources and offers some welfare-based fiscal rules for harnessing resource windfalls in developed and developing economies.
Journal ArticleDOI
Natural Resources: Curse or Blessing?
TL;DR: In this article, a variety of hypotheses and supporting evidence for why some countries benefit and others lose from the presence of natural resources are surveyed and some welfare-based fiscal rules for harnessing resource windfalls in developed and developing economies.
References
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Economic theory and exhaustible resources
Partha Dasgupta,Geoffrey Heal +1 more
TL;DR: In this paper, the authors present a preview of resource allocation in a timeless world with an introduction to exhaustible resources and an analysis of the optimal depletion of the exhaustible resource in a competitive economy.
Journal ArticleDOI
The Structure of Simple General Equilibrium Models
TL;DR: In this paper, the authors present an extended model for demand endogenous substitution, aggregate elasticity of substitution, convergence to balanced growth, and saving behavior of technology change, including the Magnification Effect.