Replication data for: Natural Resources and Global Misallocation

Principal Investigator(s): View help for Principal Investigator(s) Alexander Monge-Naranjo; Juan M. Sánchez; Raül Santaeulàlia-Llopis

Version: View help for Version V1

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Project Citation:

Monge-Naranjo, Alexander, Sánchez, Juan M., and Santaeulàlia-Llopis, Raül. Replication data for: Natural Resources and Global Misallocation. Nashville, TN: American Economic Association [publisher], 2019. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E114160V1

Project Description

Summary: 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 the last 35 years, associated with the elimination of interventionist policies and driven by domestic accumulation.

Scope of Project

JEL Classification:
      E22 Investment; Capital; Intangible Capital; Capacity
      E23 Macroeconomics: Production
      O13 Economic Development: Agriculture; Natural Resources; Energy; Environment; Other Primary Products
      Q21 Renewable Resources and Conservation: Demand and Supply; Prices
      Q31 Nonrenewable Resources and Conservation: Demand and Supply; Prices
      Q32 Exhaustible Resources and Economic Development

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Published Versions

V1 [2019-10-12]

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