Torregrosa Hetland, Sara
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Torregrosa Hetland
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Sara
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Economía
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INARBE. Institute for Advanced Research in Business and Economics
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Publication Open Access Resource abundance and public finances in five peripheral economies, 1850s-1930s(Elsevier, 2022-01-13) Peres-Cajías, José; Torregrosa Hetland, Sara; Ducoing Ruiz, Cristián; Economía; EkonomiaThe resource curse literature has established that taxation of natural resources might limit the long-term development of fiscal capacity in resource-rich countries. This article explores if, and how, natural resource abundance generates fiscal dependence on natural resource revenues. We compare five peripheral economies of Latin America (Bolivia, Chile, Peru) and Scandinavia (Norway, Sweden) over a period of 90 years, between 1850 and 1939. Both groups were natural resource abundant, but in the latter natural resource dependence decreased over time. By using a novel database, we find that fiscal dependence was low in Norway and Sweden, while high and unstable in Bolivia, Chile and Peru. This suggests that natural resource abundance should not be mechanically linked to fiscal dependence. An accounting identity shows that sudden increases in fiscal dependence were related to both economic and political factors: countries' economic diversification, and attitudes of the relevant political forces about how taxation affects the companies operating in the natural resource sector.Publication Open Access Natural resources curse in the long run? Bolivia, Chile and Peru in the nordic countries' mirror(MDPI, 2018-03-26) Ducoing Ruiz, Cristián; Peres-Cajías, José; Badia-Miró, Marc; Bergquist, Ann-Kristin; Contreras, Carlos; Ranestad, Kristin; Torregrosa Hetland, Sara; Economía; EkonomiaThe new estimates of the Maddison Project show that GDP per capita ratio at purchasing power parity (ppp) between Bolivia and Finland has changed from 0.68 ca. 1850 to 0.16 in 2015; similarly, that between Chile and Norway from 0.65 to 0.28. The aim of this article is to present a review of the literature and available quantitative evidence to understand how these extreme differences became possible between countries with similarly enormous natural resource endowments. Specifically, the article seeks to: (a) identify some stylized facts that may help understand the divergence between Andean and Nordic countries; (b) identify key historical processes that explain the divergent effect of natural resource abundance in Andean and Nordic economies. In order to achieve these objectives, four topics are covered: GDPpc, population, trade and taxation. The analysis comprises three Nordic countries (Finland, Norway and Sweden) and three Andean countries (Bolivia, Chile and Peru) from the mid-Nineteenth Century to present day. The sample size, time span covered and thematic approach provide new evidence regarding previous work.