英国财政研究所（IFS）：资源意外收入、公共支出和地方经济（英文版）

We use plausibly exogenous variation in the redistribution of natural resource tax revenues in Peru to study whether transfers to local governments can stimulate economic activity in lowincome areas. We show that resource windfalls to non-extractive municipalities between 2006 and 2018 changed the size and composition of local government expenditures and had effects on local labor markets and household welfare. We find an increase in labor force participation, earnin