Abstract
© American Economic Journal: Applied Economics 2019. Are production factors allocated efficiently across countries? To differentiate misallocation from factor intensity differences, we provide a new methodology to estimate output shares of natural resources based solely on current rent flows data. With this methodology, we construct a new dataset of estimates for the output shares of natural resources for a large panel of countries. In sharp contrast with Caselli and Feyrer (2007 ), we find a significant and persistent degree of misallocation of physical capital. We also find a remarkable movement toward efficiency during last 35 years, associated with the elimination of interventionist policies and driven by domestic accumulation.
Original language | English |
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Pages (from-to) | 79-126 |
Number of pages | 48 |
Journal | American Economic Journal: Macroeconomics |
Volume | 11 |
Issue number | 2 |
DOIs | |
Publication status | Published - 1 Jan 2019 |
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Dive into the research topics of 'Natural resources and global misallocation'. Together they form a unique fingerprint.Datasets
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Replication data for: Natural Resources and Global Misallocation
Monge-Naranjo, A. (Creator), Sánchez, J. M. (Creator) & Santaeulàlia-Llopis, R. (Creator), ICPSR - Interuniversity Consortium for Political and Social Research, 10 Dec 2019
DOI: 10.3886/e114160v1, https://www.openicpsr.org/openicpsr/project/114160/version/V1/view
Dataset
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Replication data for: Natural Resources and Global Misallocation
Monge-Naranjo, A. (Creator), Sánchez, J. M. (Creator) & Santaeulàlia-Llopis, R. (Creator), ICPSR - Interuniversity Consortium for Political and Social Research, Apr 2019
DOI: 10.3886/e114160, https://www.openicpsr.org/openicpsr/project/114160
Dataset