Natural Resources and Global Misallocation

Alexander Monge-Naranjo, Juan M. Sánchez and Raül Santaeulà lia-Llopis
Authors registered in the RePEc Author Service: Raul Santaeulalia-Llopis () and Juan M. Sanchez

No 994, Working Papers from Barcelona School of Economics

Abstract: Are production factors allocated efficiently across countries? To differentiate misallocation from factor intensity differences, we provide a new methodology to estimate output shares of natural resources based solely on current rent flows data. With this methodology, we construct a new dataset of estimates for the output shares of natural resources for a large panel of countries. In sharp contrast with Caselli and Feyrer (2007), 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.

Keywords: misallocation; natural rents; factor shares; international flows (search for similar items in EconPapers)
JEL-codes: O11 O16 O41 (search for similar items in EconPapers)
Date: 2017-10
New Economics Papers: this item is included in nep-ene, nep-env and nep-opm
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Citations: View citations in EconPapers (2)

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Related works:
Journal Article: Natural Resources and Global Misallocation (2019)
Working Paper: Natural Resources and Global Misallocation (2015)
Working Paper: Natural Resources and Global Misallocation (2015)
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Persistent link: https://EconPapers.repec.org/RePEc:bge:wpaper:994

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