Natural resources and global misallocation
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- dc.contributor.author Monge-Naranjo, Alexanderca
- dc.contributor.author Sanchez, Juan M.ca
- dc.contributor.author Santaeulalia-Llopis, Raulca
- dc.date.accessioned 2016-12-09T10:28:59Z
- dc.date.available 2016-12-09T10:28:59Z
- dc.date.issued 2016-07
- dc.description.abstract Are production factors allocated efficiently across countries? To differentiate misallocation from factor intensity differences, we construct a new dataset of estimates for the output shares of natural resources for a large panel of countries. 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. In contrast, we find a much larger and persistent misallocation of human capital. Interestingly, when both production factors can be reallocated, capital would often flow from poor to rich countries.ca
- dc.description.sponsorship The ADEMU Working Paper Series is being supported by the European Commission Horizon 2020 European Union funding for Research & Innovation, grant agreement No 649396.
- dc.format.mimetype application/pdfca
- dc.identifier.uri http://hdl.handle.net/10230/27721
- dc.language.iso engca
- dc.relation.ispartofseries ADEMU Working Paper Series;50
- dc.relation.projectID info:eu-repo/grantAgreement/EC/H2020/649396
- dc.rights This is an Open Access article distributed under the terms of the Creative Commons Attribution License Creative Commons Attribution 4.0 International, which permits unrestricted use, distribution and reproduction in any medium provided that the original work is properlyattributed.ca
- dc.rights.accessRights info:eu-repo/semantics/openAccessca
- dc.rights.uri http://creativecommons.org/licenses/by/4.0/ca
- dc.subject.keyword Factor sharesen
- dc.subject.keyword Capital formationen
- dc.subject.keyword Human capitalen
- dc.subject.keyword International flowsen
- dc.title Natural resources and global misallocationca
- dc.type info:eu-repo/semantics/workingPaperca