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  • 1
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    Munich: Center for Economic Studies and Ifo Institute (CESifo)
    Publication Date: 2018-11-19
    Description: This paper deals with the implications of natural resources for the conduct of economic policies and the role and design of institutions in resource-rich countries. The paper briefly reviews the experience of a few resource-rich countries, highlighting the successes of those that have done well as well as some of the fiscal, monetary, and exchange rate policy issues that arise along the way. Special attention is given to Norway, the world's third largest oil exporter, and the role of good governance, including democracy. The paper then turns from anecdotal to econometric analysis by offering a quick glance at some of the empirical crosscountry patterns that can be brought to bear on the relationship between natural resources, economic growth, and some of the main determinants of growth, including democracy.
    Keywords: O11 ; ddc:330 ; economic growth ; natural resources ; governance ; Rohstoffressourcen ; Wirtschaftspolitik ; Good Governance ; Wirtschaftswachstum ; Erfolgsfaktor ; Schätzung ; Welt ; Norwegen
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
    Type: doc-type:workingPaper
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  • 2
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    Munich: Center for Economic Studies and Ifo Institute (CESifo)
    Publication Date: 2018-11-19
    Description: We compare and contrast the economic growth performance of Croatia and Latvia since the collapse of communism in 1991 in an attempt to understand better the extent to which the growth differential between the two countries can be traced to increased efficiency in the use of capital and other resources (intensive growth) as opposed to sheer accumulation of capital (extensive growth). On the basis of a simple growth accounting model, we infer that advances in education at all levels, good governance, and institutional reforms have played a significant role in raising economic output and efficiency in both Croatia and Latvia. The EU perspective made a more significant contribution to growth in Latvia than in Croatia, even if Latvia's immediate post-accession boom proved unsustainable.
    Keywords: O16 ; ddc:330 ; economic growth ; governance ; transition economies ; Wirtschaftswachstum ; Übergangswirtschaft ; Bildungsinvestition ; Good Governance ; Institutioneller Wandel ; Schätzung ; Vergleich ; Lettland ; Kroatien
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 3
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    Munich: Center for Economic Studies and Ifo Institute (CESifo)
    Publication Date: 2018-11-19
    Description: We compare and contrast the economic growth performance of Estonia and Georgia since the collapse of the Soviet Union in 1991 in an attempt to understand better the extent to which the growth differential between the two countries can be traced to increased efficiency in the use of capital and other resources (intensive growth) as opposed to brute accumulation of capital (extensive growth). We infer that advances in education at all levels, good governance, and institutional reforms have played a more significant role in raising economic output and efficiency in Estonia than in Georgia which remains marred by various problems related to weak governance in the public and private spheres.
    Keywords: O16 ; ddc:330 ; economic growth ; governance ; transition economies ; Wirtschaftswachstum ; Governance-Ansatz ; Estland ; Georgien
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 4
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    Munich: Center for Economic Studies and Ifo Institute (CESifo)
    Publication Date: 2018-11-19
    Description: We use a new dataset on non-resource GDP to examine the impact of commodity price volatility on economic growth in a panel of up to 158 countries during the period 1970-2007. Our main finding is that commodity price volatility leads to a significant increase in non-resource GDP growth in democracies, but to no significant increase in autocracies. To explain this result, we show that increased commodity price volatility leads to a statistically significant and quantitatively large increase in net national saving in democracies. In autocracies, on the other hand, net national saving decreased significantly. Our results hold true when using indicators capturing the quality of economic institutions in lieu of indicators of political institutions.
    Keywords: D74 ; D63 ; F32 ; Q33 ; ddc:330 ; commodity prices ; volatility ; democracy ; economic growth
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 5
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    Munich: Center for Economic Studies and Ifo Institute (CESifo)
    Publication Date: 2016-08-20
    Description: This paper maps the use of digital tools in the Icelandic constitutional revision process of 2011 and discusses its aftermath in subsequent years. Although causal links between the digital elements of the process and the content and fate of the constitutional bill are impossible to establish, an analysis of the Icelandic constitution-writing efforts as ‘digital democracy’ reveals some important lessons. High-quality input into constitution-making processes through digital participation is possible, but the very threat of this to vested institutional interests also makes consensus on and enforcement of the ‘rules of the game’ of paramount importance.
    Keywords: K10 ; ddc:330 ; digital tools ; democracy ; constitutions ; Iceland
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 6
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    Munich: Center for Economic Studies and Ifo Institute (CESifo)
    Publication Date: 2016-08-20
    Description: To understand Iceland’s political situation, it is necessary to consider the historical background to the post-crash constitutional revision process launched in 2009. Also, the paper offers a brief account of some aspects of the constitution-making process during 2010-2013, including the work of the Constituent Assembly. Further, the paper describes Parliament’s ongoing attempt to undermine the substance of the constitutional bill accepted by two thirds of the voters in the 2012 referendum. A national parliament cannot, without undermining its own legitimacy, allow the results of a constitutional referendum to be changed after the fact, let alone ignored, even if the referendum was advisory.
    Keywords: K10 ; ddc:330 ; legitimacy ; democracy ; constitutions ; Iceland
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 7
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    Munich: Center for Economic Studies and Ifo Institute (CESifo)
    Publication Date: 2016-05-23
    Description: This paper reports recent events in Iceland where the political agents of oligarchs didn t even bother to try to influence, let alone contest, a national referendum on a new constitution because, if they didn t like the result, they would simply find ways to nullify the outcome ex post. The paper reviews and explains the making of Iceland's crowd-sourced constitution bill from 2009 to 2014, and also offers an explanation as to why the bill failed to be passed by Parliament, addressing various criticisms leveled against the bill along the way. It needs to be emphasized that these criticisms, whether well founded or not (and they are not), are irrelevant because Parliament held a national referendum on 20 October 2012 in which the bill and its key individual provisions were accepted by an overwhelming majority of the voters. A democratic nation cannot under any circumstances permit the outcome of national elections, let alone a constitutional referendum, to be fixed ex post, but this is what the Icelandic Parliament is at present trying to do, flirting with a farewell to democracy.
    Keywords: K10 ; ddc:330 ; constitution ; democracy ; Iceland
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 8
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    München: ifo Institut für Wirtschaftsforschung an der Universität München
    Publication Date: 2017-08-04
    Keywords: O10 ; O40 ; ddc:330 ; Wirtschaftswachstum ; Wachstumstheorie ; Institutionelle ; Infrastruktur ; Welt ; Economic growth ; Growth theory ; Institutional infrastructure ; World
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 9
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    Munich: Center for Economic Studies and Ifo Institute (CESifo)
    Publication Date: 2017-08-09
    Description: This paper reviews aspects of the constitution making process in Iceland after the financial collapse of 2008, emphasizing the differences between the provisional constitution of 1944 when Iceland separated unilaterally from Nazi-occupied Denmark and Denmark’s 1849 constitution which served, with notable exceptions, as the prototype for Iceland’s 1944 constitution. The comparison and contrast between the Icelandic and Danish constitutions invites a comparison also between Iceland’s 1944 constitution with the new post-crash constitution from 2011 accepted by two thirds of the voters in a national referendum in 2012 and waiting to be ratified twice by a reluctant Parliament. Against this comparative background, the paper proceeds to discuss political and procedural aspects of Iceland´s constitutional reform project, and concludes by proposing lessons to be learned from Iceland´s experience thus far.
    Keywords: K10 ; ddc:330 ; constitution making ; democracy ; Iceland ; Denmark
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 10
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    Munich: Center for Economic Studies and Ifo Institute (CESifo)
    Publication Date: 2018-11-19
    Description: This article is in three parts. First, it briefly describes the contribution of natural resources to economic growth around the world, pondering the question whether an abundance of natural resources is a blessing or a curse. Second, an attempt is made to provide a glimpse of recent empirical evidence that can be brought to bear on this question. Third, the article discusses the experience of Norway, the world's third largest oil exporter. To date, Norway has appeared to be mostly free of the worrisome symptoms, such as the Dutch disease, that have afflicted many other countries with abundant natural resources.
    Keywords: O11 ; ddc:330 ; Rohstoffressourcen ; Natürliche Ressourcen ; Wirtschaftswachstum ; Dutch Disease ; Schätzung ; Welt ; Erdölpolitik ; Good Governance ; Norwegen
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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