It takes the average reader and 26 minutes to read Commodity Windfalls, Polarization, and Net Foreign Assets by Mr.Rabah Arezki
Assuming a reading speed of 250 words per minute. Learn more
This paper examines the effect 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 homogeneous. In polarized countries, net foreign assets significantly decreased. To explain this asymmetry, the paper shows that in polarized countries commodity windfalls lead to large increases in government spending, political corruption, and the risk of expropriation, with no overall effect on GDP per capita growth. The paper's findings are consistent with theoretical models of the current account that have a built-in voracity effect.
Commodity Windfalls, Polarization, and Net Foreign Assets by Mr.Rabah Arezki is 26 pages long, and a total of 6,656 words.
This makes it 9% the length of the average book. It also has 8% more words than the average book.
The average oral reading speed is 183 words per minute. This means it takes and 36 minutes to read Commodity Windfalls, Polarization, and Net Foreign Assets aloud.
Commodity Windfalls, Polarization, and Net Foreign Assets is suitable for students ages 8 and up.
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