01834cas a2200265 a 4500 AALejournalIMF016695 230101c9999 xx r poo 0 0eng d 5.00 USD 9781513587752 1018-5941 BD-DhAAL BD-DhAAL Cavalcanti, Tiago. Winning the Oil Lottery : The Impact of Natural Resource Extraction on Growth / Tiago Cavalcanti, Daniel Da Mata, Frederik Toscani. Washington, D.C. : International Monetary Fund, 2016. 1 online resource (34 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper provides evidence of the causal impact of oil discoveries on development. Novel data on the drilling of 20,000 oil wells in Brazil allows us to exploit a quasi-experiment: Municipalities where oil was discovered constitute the treatment group, while municipalities with drilling but no discovery are the control group. The results show that oil discoveries significantly increase per capita GDP and urbanization. We find positive spillovers to non-oil sectors, specifically, an increase in services GDP which stems from higher output per worker. The results are consistent with greater local demand for non-tradable services driven by highly paid oil workers. Mode of access: Internet Da Mata, Daniel. Toscani, Frederik. IMF Working Papers; Working Paper ; No. 2016/061 Full text available on IMF http://elibrary.imf.org/view/journals/001/2016/061/001.2016.issue-061-en.xml IMF e-Library