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 since 2002, in which South-America plays a prominent role; second, fuel and minerals booms are more likely to be larger and longer, and to generate more Dutch disease symptoms than capital flows or agricultural products booms, and third, the negative impact over the industry tends to last two and three years after the boom has ended.
