Understanding the boom: A framing paper

Mark Henstridge

No wp-2018-178, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: A significant natural resource discovery creates excited popular expectations of imminent wealth. But the size of a boom is usually overestimated and the delay in receiving revenues is underestimated. This paper takes stock of the sequencing, timing, and scale of the development of a natural resource endowment; reviews the 'resource curse' literature; looks at benchmarks of scale and timing so as to put potential booms into the context of the challenges of growth and structural change in Africa; and, finally, gathers together observations on policy and institutional changes.

Keywords: Developing countries; Institutions; Macroeconomics; Natural resources; Resource curse; Boom (search for similar items in EconPapers)
Date: 2018
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