About this document
COM Economist 03 The Devils Excrement by Eddy Illanes Andaluz is a document available to read on EtoBox.
A new book from the Open Society Institute points out that resourcepoor countries grew two to three times faster than resourcerich countries between 1960 and 1990. An oil bonanza causes a sudden rush of foreign earnings? this drives up the value of the currency, making domestic goods less competitive at home and abroad. Oil economies such as Norway and Alaska have come up with a clever (though imperfect) solution: they hive off much of the oil income into "stabilisation" funds.
- Author
- Eddy Illanes Andaluz
- Language
- EN