The Natural Resource Curse and Fiscal Decentralization
研究发现财政分权程度差异可解释为何自然资源丰富对某些国家是祝福、对另一些却是诅咒，并用跨国面板数据验证了这一新假说。
Natural resource abundance is a blessing for some countries, but a curse for others. We show that differences across countries in the degree of fiscal decentralization can contribute to this divergent outcome. Using a large panel of countries covering several decades and various fiscal decentralization and natural resource measures, we provide empirical support for the novel hypothesis. We also study a model that combines political and market mechanisms under a unified framework to illustrate how natural resource booms may create negative effects in fiscally decentralized nations.