Real and Monetary Aspects of the ‘Dutch Disease’
1985; Palgrave Macmillan; Linguagem: Inglês
10.1007/978-1-349-17919-0_12
Autores Tópico(s)Fiscal Policy and Economic Growth
ResumoWhen the average rate of growth of an economy is high, considerable changes in the relative sizes of different sectors can often be accommodated without great cost. However, in an environment of sluggish overall growth, such as has characterised most of the world in the past eight years, structural adjustment may be extremely painful, even though it results from a boom elsewhere in the economy. The problems are likely to be particularly acute if the boom takes the form of a rapid and unanticipated expansion of a small number of sectors, as typically follows the exploitation of natural resource discoveries.
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