Do Oil Windfalls Improve Living Standards? Evidence from Brazil

Francesco Caselli, Guy Michaels

NBER Working Paper No. 15550
Issued in December 2009

---- Acknowledgements -----

LSE, CREI, CEPR, and NBER (Caselli, f.caselli@lse.ac.uk) and LSE and CEPR (Michaels, g.michaels@lse.ac.uk). We are grateful to Facundo Alvaredo, Igor Barenboim, Gadi Barlevy, Marianne Bertrand, Irineu de Carvalho, Fred Finan, Doug Gollin, Todd Gormley, Steve Haber, Seema Jayachandran, Martin Koppensteiner, Andrei Levchenko, Marco Manacorda, Alan Manning, Halvor Mehlum, Marcos Mendes, Benoit Mojon, Steve Pischke, Steve Redding, Eustachio Reis, Silvana Tenreyro, Adrian Wood, and Alwyn Young for comments, data, or both; useful comments were also received from seminar participants at Brown, Bruegel, Columbia, INSEAD, LSE, Oxford, Sussex, Toronto, Yale, and Zurich; conference participants at AMID/BREAD/CEPR 2009, Development Conference at NYU, ESSIM 2009, OxCarre 2008, NBER Growth Conference in San Francisco, and NBER Summer Institute Political Economy Workshop. We thank Gabriela Domingues, Renata Narita, and Gunes Asik-Altintas for research assistance. Caselli gratefully acknowledges the support of CEP, ESRC and Banco de España, the latter through the Banco de España Professorship. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.

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