The Volatility Curse and Financial Development: Revisiting the paradox of plenty.
The volatility of unanticipated output growth in income per capita is detrimental to long-run development, controlling for initial income per capita, population growth, human capital, investment, openness and natural resource dependence. This effect is significant and robust over a wide range of spe...
| Main Authors: | , |
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| Format: | Working paper |
| Language: | English |
| Published: |
OxCarre
2009
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