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The boom, the bust, and the dynamics of oil resource management in Ghana

Ernest Aryeetey and Ishmael Ackah

No wp-2018-89, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: Oil resources are neither a curse nor a blessing. The sound management of these resources can make them beneficial or otherwise. In order to translate Ghana's oil resources into inclusive development amid high expectations, several laws and regulations have been passed and new institutions created. Despite the presence of the new institutions, laws, and regulations, spending from petroleum revenues appears to be rather thinly spread and not efficient. This defeats the purpose of diversification and leads to high debt and cost overruns.

Keywords: Oil; Petroleum revenues; diversification; Macroeconomic policy; Resource revenues (search for similar items in EconPapers)
Date: 2018
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