How Long to Read Resource Windfalls, Optimal Public Investment and Redistribution

How Long Does it Take to Read Resource Windfalls, Optimal Public Investment and Redistribution?

It takes the average reader and 34 minutes to read Resource Windfalls, Optimal Public Investment and Redistribution by Mr.Rabah Arezki

Assuming a reading speed of 250 words per minute. Learn more

Description

This paper studies the optimal public investment decisions in countries experiencing a resource windfall. To do so, we use an augmented version of the Permanent Income framework with public investment faced with adjustment costs capturing the associated administrative capacity as well as government direct transfers. A key assumption is that those adjustment costs rise with the size of the resource windfall. The main results from the analytical model are threefold. First, a larger resource windfall commands a lower level of public capital but a higher level of redistribution through transfers. Second, weaker administrative capacity lowers the increase in optimal public capital following a resource windfall. Third, higher total factor productivity in the non-resource sector reduces the degree of des-investment in public capital commanded by weaker administrative capacity. We further extend our basic model to allow for "investing in investing" - that is public investment in administrative capacity - by endogenizing the adjustment cost in public investment. Results from the numerical simulations suggest, among other things, that a higher initial stock of public administrative "know how" leads to a higher level of optimal public investment following a resource windfall. Implications for policy are discussed.

How long is Resource Windfalls, Optimal Public Investment and Redistribution?

Resource Windfalls, Optimal Public Investment and Redistribution by Mr.Rabah Arezki is 34 pages long, and a total of 8,636 words.

This makes it 11% the length of the average book. It also has 11% more words than the average book.

How Long Does it Take to Read Resource Windfalls, Optimal Public Investment and Redistribution Aloud?

The average oral reading speed is 183 words per minute. This means it takes and 47 minutes to read Resource Windfalls, Optimal Public Investment and Redistribution aloud.

What Reading Level is Resource Windfalls, Optimal Public Investment and Redistribution?

Resource Windfalls, Optimal Public Investment and Redistribution is suitable for students ages 8 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

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