Winning the Oil Lottery : The Impact of Natural Resource Extraction on Growth »
Journal Issue
Volume/Issue: 2016/61
Series: IMF Working Papers
Author(s): Tiago Cavalcanti , Daniel Da Mata , and Frederik Toscani
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 14 March 2016
DOI: http://dx.doi.org/10.5089/9781513587752.001
ISBN: 9781513587752
Keywords: Oil and Gas, Urbanization, oil, drilling, oil discoveries, oil production, gas, General, All Countries,
This paper provides evidence of the causal impact of oil discoveries on development. Novel data on the drilling of 20,000 oil wells in Brazil allows us to exploit a quasi-experiment: Municipalities where oil was di...