The Local Economic Effects of Natural Resources
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World Bank, Washington, DC
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This paper estimates the welfare
impacts of natural resources by analyzing Ghana’s offshore
oil discovery and subsequent production. It finds
substantial increases in real income, but no effect on
consumption and poverty. The income effects are stronger for
skilled workers. Estimates of the effects of oil discovery
on employment show that employment in general increased by 4
percentage points. The positive employment effects are
largely concentrated in non-oil local sectors: manufacturing
and construction. The findings do not show significant
impacts on employment in the agriculture and service sectors
where a large proportion of individuals below the poverty
line are engaged. This largely explains why the oil
discovery had no effect on poverty reduction, as it
benefited the non-poor rather than the poor.
Palabras clave
NATURAL RESOURCES, LOCAL LABOR MARKETS, JOBS, POVERTY, OFFSHORE OIL, ECONOMIC IMPACTS OF OIL DISCOVERY, CONSUMPTION AND POVERTY, INEQUITY