Foreign Resource Inflows, Saving, and Growth

Maurice Obstfeld

No 233618, Center for International and Development Economics Research (CIDER) Working Papers from University of California-Berkeley, Department of Economics

Abstract: This paper surveys aspects of the empirical and theoretical debate over the effects of foreign resource inflows on the national saving, investment, and growth of developing countries. The paper suggests a methodology for systematically studying the effects of resource inflows, based on standard optimal growth models modified for consistency with key empirical macro relations. A fairly robust normative implication even of representative-agent optimal consumption models is that much if not most of extra permanent resources should be consumed rather than invested.

Keywords: Financial; Economics (search for similar items in EconPapers)
Pages: 68
Date: 1998-05
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Citations: View citations in EconPapers (10)

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Working Paper: Foreign Resource Inflows, Saving, and Growth (1998)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:ucbewp:233618

DOI: 10.22004/ag.econ.233618

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