Bonanzas temporales de recursos: una perspectiva global

Abstract

This paper analyzes the effect of temporary resource booms on manufacturing industry at a global level, but emphasizing the South- American case. The main conclusions are the following: first, the world is facing a boom of booms , in which South-America plays a prominent role, second the booms (instead of the stable income derived from natural- resource exports, remittances or short-time capital flows) might have negative impacts on manufactures, if the right public policies are not well implemented, third, fuel, mineral and short-term capital booms are more likely to be larger and longer, and to generate more Dutch disease symptoms than other booms, and fourth, the negative impact over manufacturing industry tend to last several years after the boom has ended.