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AbstractThis paper examines whether the location factors related to the rich natural endowments of Greece (first nature of geography) affect those of the proximity to suppliers, similar firms and the capital (second nature of geography). It finds that geomorphology and climate reinforce all the second‐nature factors. Sea access favours firms' linkages, and natural resources attract both firms' linkages and localization economies. Nevertheless, the high‐quality natural environment of certain areas cannot coexist with localization and urbanization economies. These findings seem to be stronger for domestic than for foreign firms, while the differences between sectors are sensitive to the geography factors.

This article inquires into the meaning and value of contract as a principle for ordering technologically assisted human reproduction. The article seeks to provide an analytically sound definition of this contractual option for ordering the new reproductive technologies, an accurate statement of its current legal status, and an assessment of its theoretical cogency and political and practical appeal. The purpose of the article is the clarification and critique of contract-based proposals for a new legal ordering of human reproduction. On a more general level, it seeks to contribute to a sound conceptual framework for the ongoing discussion of the legal implications of new reproductive technologies.

This paper deals with the implications of natural resources for the conduct of economic policies and the role and design of institutions in resource-rich countries. The paper briefly reviews the experience of a few resource-rich countries, highlighting the successes of those that have done well as well as some of the fiscal, monetary, and exchange rate policy issues that arise along the way. Special attention is given to Norway, the world's third largest oil exporter, and the role of good governance, including democracy. The paper then turns from anecdotal to econometric analysis by offering a quick glance at some of the empirical crosscountry patterns that can be brought to bear on the relationship between natural resources, economic growth, and some of the main determinants of growth, including democracy.

This paper deals with the implications of natural resources for the conduct of economic policies and the role and design of institutions in resource]rich countries. The paper briefly reviews the experience of a few resource]rich countries, highlighting the successes of those that have done well as well as some of the fiscal, monetary, and exchange rate policy issues that arise along the way. Special attention is given to Norway, the worldfs third largest oil exporter, and the role of good governance, including democracy. The paper then turns from anecdotal to econometric analysis by offering a quick glance at some of the empirical cross-country patterns that can be brought to bear on the relationship between natural resources, economic growth, and some of the main determinants of growth, including democracy.

The recent development literature stresses that countries that receive large revenues from natural resource endowments typically raise less revenue from domestic taxation, and that this creates governance problems because the lower domestic tax effort reduces the incentive for the public scrutiny of government. Our results from a panel of 30 hydrocarbon producing countries indicate that the offset between hydrocarbon revenues and revenues from other domestic sources is about 20 percent but that it is invariant to governance indicators

We examine whether there is evidence of an offset between government revenues from hydrocarbon (oil and gas) related activities and revenues from other domestic sources in a panel of 30 hydrocarbon producing countries. Our main finding is that there is an offset of about 20%, which is robust to the inclusion of control variables, the exclusion of outliers, and alternate estimation methodologies. While the impact of the offset on long-term development prospects is not clear, there is a risk of significant adjustment costs in moving to a higher level of domestic taxation once natural resources are depleted. [Copyright Elsevier B.V.]