{"id":17603,"date":"2025-09-09T16:10:03","date_gmt":"2025-09-09T13:10:03","guid":{"rendered":"https:\/\/www.poleconomix.gr\/portal\/?p=17603"},"modified":"2025-09-09T16:10:03","modified_gmt":"2025-09-09T13:10:03","slug":"easy-money-easy-spending-a-new-take-on-the-resource-curse","status":"publish","type":"post","link":"https:\/\/www.poleconomix.gr\/portal\/easy-money-easy-spending-a-new-take-on-the-resource-curse\/","title":{"rendered":"Easy money, easy spending: A new take on the resource curse"},"content":{"rendered":"\n<p>Rabah Arezki\u00a0\u00a0Hieu Nguyen\u00a0\u00a0Frederick Van Der Ploeg<\/p>\n\n\n\n<p>When wealth or income suddenly increases (\u2018easy money\u2019), this may be directed towards unproductive \u2018easy spending\u2019. This column explores the relationship between conspicuous consumption and revenue windfalls using country-specific variations in commodity export prices, and finds that the responses are bigger for luxury than for non-luxury imports. Countries that have higher inequality, weaker control of corruption, or less democracy have significantly higher luxury import responses following a commodity export windfall. These results suggest a novel (conspicuous consumption) channel of the resource curse in the context of weak mechanisms for resource allocation.<\/p>\n\n\n\n<p>\u03a0\u03b7\u03b3\u03ae: Voxeu<\/p>\n\n\n\n<p><a href=\"https:\/\/cepr.org\/voxeu\/columns\/easy-money-easy-spending-new-take-resource-curse\">\u03c0\u03bb\u03ae\u03c1\u03b5\u03c2 \u03ba\u03b5\u03af\u03bc\u03b5\u03bd\u03bf<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rabah Arezki\u00a0\u00a0Hieu Nguyen\u00a0\u00a0Frederick Van Der Ploeg When wealth or income suddenly increases (\u2018easy money\u2019), this may be directed towards unproductive \u2018easy spending\u2019. This column explores the relationship between conspicuous consumption and revenue windfalls using country-specific variations in commodity export prices, and finds that the responses are bigger for luxury than for non-luxury imports. Countries that [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18,40,4],"tags":[],"class_list":["post-17603","post","type-post","status-publish","format-standard","hentry","category-18","category-40","category-proposals"],"_links":{"self":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/17603","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/comments?post=17603"}],"version-history":[{"count":1,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/17603\/revisions"}],"predecessor-version":[{"id":17604,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/17603\/revisions\/17604"}],"wp:attachment":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/media?parent=17603"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/categories?post=17603"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/tags?post=17603"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}