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Natural resource wealth: the challenge of managing a windfall

Frederick (Rick) van der Ploeg () and Anthony Venables ()

No 8694, CEPR Discussion Papers from C.E.P.R. Discussion Papers

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: absorptive capacity; Dutch disease; fiscal rules; managing windfalls; public investment; resource curse; volatility (search for similar items in EconPapers)
JEL-codes: E60 F34 F35 F43 H21 H63 O11 Q33 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ene, nep-mac and nep-res
Date: 2011-12
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Journal Article: Natural Resource Wealth: The Challenge of Managing a Windfall (2012) Downloads
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