Formal Appendix
نویسنده
چکیده
This note provides formal derivations of claims made in “The Political Economy of Natural Resource Funds” (Chapter 8 of Escaping the Resource Curse, New York: Columbia University Press). We provide a two period model in in which two individuals take turns in dividing a non-renewable asset. The problem is analogous to that facing countries endowed with a natural resource or other fund. Insecurity over control of the division combined with policy disagreement yield faster than optimal consumption.
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