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The Impact of Natural Resource Extraction on Growth
出版International Monetary Fund, 2016-03-14
主題Business & Economics / Investments & Securities / Commodities / EnergyBusiness & Economics / Industries / EnergyNature / Natural Resources
ISBN15135877579781513587752
URLhttp://books.google.com.hk/books?id=6LMaEAAAQBAJ&hl=&source=gbs_api
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註釋This paper provides evidence of the causal impact of oil discoveries on development. Novel data on the drilling of 20,000 oil wells in Brazil allows us to exploit a quasi-experiment: Municipalities where oil was discovered constitute the treatment group, while municipalities with drilling but no discovery are the control group. The results show that oil discoveries significantly increase per capita GDP and urbanization. We find positive spillovers to non-oil sectors, specifically, an increase in services GDP which stems from higher output per worker. The results are consistent with greater local demand for non-tradable services driven by highly paid oil workers.