Natural Resource Wealth: The Challenge of Managing a Windfall

Frederick (Rick) van der Ploeg and Anthony Venables

Annual Review of Economics, 2012, vol. 4, issue 1, 315-337

Abstract: Many countries have failed to use natural resource wealth to promote growth and development. They have been damaged by the volatility of revenues and 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 review 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: 2012
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Citations: View citations in EconPapers (56)

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Related works:
Working Paper: Natural resource wealth: the challenge of managing a windfall (2011)
Working Paper: Natural Resource Wealth: The challenge of managing a windfall (2011)
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