Extractive industries: recognizing and managing the risks in resource-dependent economies

Tony Addison and Alan R. Roe

No wp-2024-27, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: This paper analyses the risks facing resource-dependent countries. These include: (i) economic mismanagement (the 'resource curse'); (ii) political mismanagement; (iii) environmental damage (climate change and the destruction of natural capital). It distinguishes 'risk' (which can be addressed probabilistically) from 'uncertainty' (infrequent unpredictable events). Mozambique, with its large natural gas resource, provides examples of all the component risks and uncertainties.

Keywords: Africa; Extractive industries; Debt crisis; Mining; Natural gas; Oil (search for similar items in EconPapers)
Date: 2024
New Economics Papers: this item is included in nep-afr, nep-ene and nep-env
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