A Macroeconomic Model of a Developing Country Endowed with a Natural Resource

Mansoob Murshed

No wp-1999-165, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: The present paper presents a short-run theoretical macroeconomic model of the type suggested in Sachs (1996), attempting to differentiate economic development in East Asia with Latin America. Latin America, when compared to East Asia is said to exhibit a pattern of growth associated with relative natural-resource abundance. The economy in the model that follows is comprised of 3 sectors, two of which involve traded goods and one non-traded commodity. A monetary sector is also incorporated.

Keywords: Economic development; Econometric models (Macroeconomics); Money supply; Natural resources (search for similar items in EconPapers)
Date: 1999
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