The Policy Framework of Natural Resource Management in Oil-Dependence Countries

Basem Ertimi, Tamat Sarmidi, Norlin Khalid and Mohd Helmi Ali
Additional contact information
Basem Ertimi: Faculty of Economics, University of Zawia, Zawia P.O. Box 16418, Libya
Tamat Sarmidi: Faculty of Economics and Management, Universiti Kebangsaan Malaysia, Bangi 43600, Malaysia
Norlin Khalid: Faculty of Economics and Management, Universiti Kebangsaan Malaysia, Bangi 43600, Malaysia
Mohd Helmi Ali: Faculty of Economics and Management, Universiti Kebangsaan Malaysia, Bangi 43600, Malaysia

Economies, 2021, vol. 9, issue 1, 1-17

Abstract: A variety of critical empirical studies are interested in and focused on complex issues related to natural resource management and resource curse, whilst less can be found combining diverse factors that affect the dynamics of this curse and mitigate it. The case study of Norway is used as the benchmark policy framework in oil-rich countries to invest oil revenues and set correct fiscal policies. In this study, an analytical framework was structured to evaluate the coherence of resource management with sustainability as a starting point, contributing to further assessments of how the adaptation of such policies is incorporated in resource management to mitigate the resource curse. The analysis also suggests that oil-rich countries can learn from Norway’s experience to mitigate this resource curse and utilize oil revenues in the interest of the country. In addition, the analysis helps in effective management and the protection of ecological resources as these are becoming an increasingly important strategic part of natural wealth. This study aimed to provide an overarching framework designed to help conceptualize key issues of natural resource management and the resource curse in oil-rich countries and understand the challenges facing those countries in managing the natural resources.

Keywords: resource management; oil curse; footprint; fiscal policy; sustainability; footprint (search for similar items in EconPapers)
JEL-codes: E F I J O Q (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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