Black Gold, or Fool’s Gold? North Sea Oil, Dutch Disease, and the Fortunes of British Manufacturing
研究了1970年代英国成为重要产油国后，石油是否通过荷兰病机制损害了制造业，发现石油加剧而非单独导致去工业化。
Abstract The emergence of Britain as a significant oil producer in the mid-to-late 1970s seemed to open up a brave new world of possibilities. But this newfound optimism soon gave way to bitter disagreement as the spectre of “Dutch Disease” loomed large, and questions abounded as to whether oil exerted a pernicious impact on the fortunes of the manufacturing sector. The empirical analysis herein uncovers evidence supporting core facets of the Dutch Disease hypothesis, thus vindicating earlier warnings foretelling an atrophy of manufacturing. Nevertheless, other significant factors were in play alongside oil, hence I speak of an oil-aggravated rather than oil-induced deindustrialization.