TY - BOOK ID - 84658659 TI - Do Resource Windfalls Improve the Standard of Living in Sub-Saharan African Countries? : Evidence from a Panel of Countries AU - Lee, Munseob. AU - Gueye, Cheikh. AU - International Monetary Fund PY - 2015 SN - 1484336682 1484336585 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Cost and standard of living -- Africa, Sub-Saharan. KW - Natural resources -- Africa, Sub-Saharan. KW - Prices -- Africa, Sub-Saharan. KW - Business & Economics KW - Economic History KW - Macroeconomics KW - Natural Resources KW - Multiple or Simultaneous Equation Models: Models with Panel Data KW - Welfare, Well-Being, and Poverty: General KW - Macroeconomic Analyses of Economic Development KW - Economic Development: Agriculture KW - Energy KW - Environment KW - Other Primary Products KW - Economywide Country Studies: Africa KW - Exhaustible Resources and Economic Development KW - Resource Booms KW - Nonrenewable Resources and Conservation: Government Policy KW - Agricultural and Natural Resource Economics KW - Environmental and Ecological Economics: General KW - Aggregate Factor Income Distribution KW - Health: General KW - Personal Income, Wealth, and Their Distributions KW - Environmental management KW - Health economics KW - Natural resources KW - Health KW - Income distribution KW - Income inequality KW - Personal income KW - National accounts KW - Income KW - United States UR - https://www.unicat.be/uniCat?func=search&query=sysid:84658659 AB - We examine the impact of resource windfall on the standard of living both in the short-run and long-run, using a sample of 130 countries, 1963-2007. Then, we systematically investigate the effect of resource windfall on welfare in three different groups of countries: We find that in the short-run resource windfall is welfare enhancing in the whole sample, especially via increases in income and decreases in inequality. However, in SSA countries, the size of welfare improvement is small and it is smaller and almost zero after one year in fragile Sub-Saharan African (SSA) countries. In the whole sample, a resource windfall shock leads to significant welfare growth even in the long-run, but we couldn’t find any significant long-run effect of resource windfall in SSA countries. ER -