Natural Resource Wealth: The challenge of managing a windfall

Anthony Venables and Frederick (Rick) van der Ploeg

No 75, OxCarre Working Papers from Oxford Centre for the Analysis of Resource Rich Economies, University of Oxford

Abstract: Many countries have failed to use natural resource wealth to promote growth and development. They have been damaged by volatility of revenues, have failed to save a sufficiently high proportion of their resource revenues and failed to make high return investments to support diversification of their economies. This paper explores the reasons for these failures and discusses policies to improve performance.

Keywords: resource curse; managing windfalls; fiscal rules; volatility; absorptive capacity; Dutch disease; public investment (search for similar items in EconPapers)
JEL-codes: E60 F34 F35 F43 H21 H63 O11 Q33 (search for similar items in EconPapers)
Date: 2011-11-08
New Economics Papers: this item is included in nep-mac and nep-res
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Citations: View citations in EconPapers (53)

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Related works:
Journal Article: Natural Resource Wealth: The Challenge of Managing a Windfall (2012)
Working Paper: Natural resource wealth: the challenge of managing a windfall (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:oxf:oxcrwp:075

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