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: | Ploeg, F, Poelhekke, S |
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Format: | Working paper |
Language: | English |
Published: |
OxCarre
2009
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