Resource Windfalls, Optimal Public Investment and Redistribution : The Role of Total Factor Productivity and Administrative Capacity »
Series: IMF Working Papers
Author(s): Alan Gelb , Arnaud Dupuy , and Rabah Arezki
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 August 2012
Keywords: Resource Windfall, Administrative Capacity, capital investment, investment management, investor protection, public investment programs, Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General, International Lending and Debt Problems,
This paper studies the optimal public investment decisions in countries experiencing a resource windfall. To do so, we use an augmented version of the Permanent Income framework with public investment faced with ad...