Extractive industries: transforming states and improving economic management

Tony Addison and Alan R. Roe

No wp-2024-33, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: While market mechanisms and private initiatives can deliver much for development, public action is also necessary to: maximize the economic benefits of the extractive industries; manage potentially large capital and revenues flows; minimize adverse environmental and social impacts; and steer the economy towards a net zero future. An 'All of Government Approach' is desirable: to coordinate action, especially between local and central government, around a long-term sector strategy; and to provide the private sector with a consistent policy framework which encourages investment.

Keywords: Extractive industries; Oil; Mining; Natural gas; Sovereign wealth funds; Taxation (search for similar items in EconPapers)
Date: 2024
New Economics Papers: this item is included in nep-ene and nep-env
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