The Gregory Thesis Visits the Tropics

Peter Warr

Departmental Working Papers from The Australian National University, Arndt-Corden Department of Economics

Abstract: A concern about large, export-oriented projects relates to the flows of foreign exchange into the domestic economy that they produce. These flows occur both during the investment phase of the project and subsequently during its operational phase, through export earnings. Foreign exchange inflows produce direct benefits for some groups, but may also indirectly harm others, through an appreciation of the real exchange rate. These indirect outcomes, known as the 'Gregory effect' in Australia and as the 'Dutch disease' or 'booming sector' effect elsewhere, are studied in this paper in the context of a large infrastructure project in Laos.

Keywords: F32; O11; O53 (search for similar items in EconPapers)
Pages: 48 pages
Date: 2006
New Economics Papers: this item is included in nep-fmk
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Citations: View citations in EconPapers (12)

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