Resource Curse or Debt Overhang?

By Osmel Manzano, Roberto Rigobon. 2001

421 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Renewable Energy, Sustainability and the Environment, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/bb542732aab5612d781375993ab1decaebe90dc4

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Economics and Econometrics

1. F. van der ploeg
2. E. Papyrakis
3. J. Emery
4. J. Boyce
5. Olivier Cadot
6. Atsushi Iimi
7. Paul Collier
8. Céline Carrère

In Renewable Energy, Sustainability and the Environment

1. Paul Collier
2. Vanessa Strauss-Kahn
3. J. Emery
4. Céline Carrère
5. V. Daniele
6. Erwin H. Bulte
7. Jeffrey A. Frankel
8. William F. Maloney

In Strategy and Management

1. Olivier Cadot
2. Céline Carrère
3. Vanessa Strauss-Kahn
4. Paul Collier
5. V. Daniele
6. Erwin H. Bulte
7. J. Pettersson
8. Jeffrey A. Frankel

Citations in the corpus

• A New Resource Curse? Impacts of China’s Boom on Comparative Advantage and Resource Dependence in Southeast Asia (2007, background): “…rates in the 1980s, moreover, were not unique to resource-rich economies, and could instead have been the products of debt overhang or other post-oil shock imbalances and incomplete adjustment (Manzano & Rigobon, 2001), in addition to the contemporaneous effects of global commodity price collapses.”
• The Resource Curse and its Potential Reversal (2013, background): “See, in particular, Brunnschweiler and Bulte (2008), Alexeev and Conrad (2009), and also for example, Manzano and Rigobon (2007) and Lederman and Maloney (2007).”
• Trade structure and growth (2003, background): “Finally, Manzano and Rigobon(2001) argue that imperfect international capital markets allow countries experiencing commodity price booms to over borrow, eventually requiring policies that restrict growth when credit dries up during the inevitable downturns.”
• Is a negative correlation between resource abundance and growth sufficient evidence that there is a “resource curse”? (2011, background): “doing in Matsuyama (1992), ncreasing returns to scale in hlum et al.”
• Natural Resources: Curse or Blessing? (2011, background): “…2008). of resource dependence is mainly driven by boom–bust cycles induced by volatile commodity prices, debt overhang, and credit constraints, and much less by quality of bureaucracy (data from Stephen Knack and Philip Keefer 1995) or degree of financial development (Manzano and Rigobon 2001).”
• The Natural Resource Curse: A Survey of Diagnoses and Some Prescriptions (2012, background): “26 Manzano and Rigobon (2008) argue that the negative Sachs-Warner effect of resource dependence on growth rates during 1970-1990 was mediated through international debt incurred when commodity prices were high.”
• Trade Diversification, Income, and Growth: What Do We Know? (2013, positive): “The first blow came from Manzano and Rigobon (2001) who showed that once excess borrowing during booms is accounted for, the negative correlation between naturalresource dependence and growth disappears.”
• Natural Resource Abundance and Economic Growths (2005, neutral): “See also Auty (2001b), Isham et al. (2003), Manzano and Rigobon (2001), Mikesell (1997), Neumayer (2004), and Ross (1999). run, of resource endowments as defined by current technology.”
• Cursing the blessings? Natural resource abundance, institutions, and economic growth (2008, neutral): “Torvik (2001) shows that natural resource abundance increases rent-seeking behaviour and lowers income; while Manzano and Rigobon (2001) believe that the real problem for growth is the debt overhang in resource-rich countries.”