ESCAPING THE RESOURCE CURSE INITIATIVE FOR POLICY DIALOGUE

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Escaping The Resource Curse

Author : Macartan Humphreys
ISBN : 9780231512107
Genre : Business & Economics
File Size : 24.46 MB
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The wealth derived from natural resources can have a tremendous impact on the economics and politics of producing countries. In the last quarter century, we have seen the surprising and sobering consequences of this wealth, producing what is now known as the "resource curse." Countries with large endowments of natural resources, such as oil and gas, often do worse than their poorer neighbors. Their resource wealth frequently leads to lower growth rates, greater volatility, more corruption, and, in extreme cases, devastating civil wars. In this volume, leading economists, lawyers, and political scientists address the fundamental channels generated by this wealth and examine the major decisions a country must make when faced with an abundance of a natural resource. They identify such problems as asymmetric bargaining power, limited access to information, the failure to engage in long-term planning, weak institutional structures, and missing mechanisms of accountability. They also provide a series of solutions, including recommendations for contracting with oil companies and allocating revenue; guidelines for negotiators; models for optimal auctions; and strategies to strengthen state-society linkages and public accountability. The contributors show that solutions to the resource curse do exist; yet, institutional innovations are necessary to align the incentives of key domestic and international actors, and this requires fundamental political changes and much greater levels of transparency than currently exist. It is becoming increasingly clear that past policies have not provided the benefits they promised. Escaping the Resource Curse lays out a path for radically improving the management of the world's natural resources.
Category: Business & Economics

A Public Financial Management Framework For Resources Producing Countries

Author : Jean-Luc Hélis
ISBN : 9781451981995
Genre : Business & Economics
File Size : 27.61 MB
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This working paper overviews the challenges posed by resource revenues management and the policy prescriptions to meet them, and focuses on the Public Financial Management (PFM) framework and reforms that resource-producing countries should adopt. The paper outlines a PFM framework and reform path that take into account the institutional diversity of resource-producing countries. In the short term, the proposed reforms highlights the tools that could be implemented even where the PFM system is rather basic, while over the medium and long term they aim at converging with best international PFM practices.
Category: Business & Economics

Social Conflict Economic Development And The Extractive Industry

Author : Anthony Bebbington
ISBN : 9781136620225
Genre : Business & Economics
File Size : 72.23 MB
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The extraction of minerals, oil and gas has a long and ambiguous history in development processes – in North America, Europe, Latin America and Australasia. Extraction has yielded wealth, regional identities and in some cases capital for industrialization. In other cases its main heritages have been social conflict, environmental damage and underperforming national economies. As the extractive economy has entered another boom period over the last decade, not least in Latin America, the countries in which this boom is occurring are challenged to interpret this ambiguity. Will the extractive industry yield, for them, economic development, or will its main gifts be ones of conflict, degradation and unequal forms of growth. This book speaks directly to this question and to the different ways in which Latin American countries are responding to the challenge of extractive industry. The contributors are a mixture of geographers, economists, political scientists, development experts and anthropologists, who all draw on sustained field work in the region. By digging deep into both national and local experiences with extractive industry they demonstrate the ways in which it transforms economies, societies, polities and environments. They pay particular attention to the social conflict that extraction consistently produces, and they ask how far this conflict might usher in political and institutional changes that could lead to a more productive relationship between extraction and development. They also ask whether the existence of left-of-centre governments in the region changes the relationships between extractive industry and development. The book makes clear the immense difficulties that countries and regional societies face in harnessing extractive industry for the collective good. For the most part the findings question the wisdom of the development model that many countries in the region have taken up and which emphasises the productive roles of mining and hydrocarbon industries. The book should be of interest to students and researchers of Development Studies, Geography, Politics and Political Economy, as well as Anthropology.
Category: Business & Economics

Development Cooperation In Times Of Crisis

Author : José Antonio Alonso
ISBN : 9780231504393
Genre : Business & Economics
File Size : 66.49 MB
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Leading governments undertook extraordinary measures to offset the 2008 economic crisis, shoring up financial institutions, stimulating demand to reverse recession, and rebalancing budgets to alleviate sovereign debt. While productive in and of themselves, these solutions were effective because they were coordinated internationally and were matched with sweeping global financial reforms. Unfortunately, coordination has weakened after these initial steps, indicating one of the crisis's adverse effects will be a significant reduction in development cooperation. Urging advanced nations to improve their support for development, the contributors to this volume revisit the causes of the 2008 collapse and the ongoing effects of recession on global and developing economies. They reevaluate the international response to crisis and suggest more effective approaches to development cooperation. Experts on international aid join together to redesign the cooperation system and its governance, so it can accept new actors and better achieve the Millennial Development Goals of 2015 within the context of severe global crisis. In their introduction, José Antonio Alonso and José Antonio Ocampo summarize different chapters and the implications of their analyses, concluding with a frank assessment of global economic imbalance and the ability of increased cooperation to rectify these inequalities.
Category: Business & Economics

Taxation In Developing Countries

Author : Roger Gordon
ISBN : 9780231520072
Genre : Business & Economics
File Size : 54.23 MB
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Taxes are a crucial policy issue, especially in developing countries. Just recently, proposals to raise middle-class taxes toppled the Bolivian government, and plans to extend or increase the value-added tax caused political unrest in Ecuador and Mexico. Despite the impact of tax policy on developing countries, a comprehensive study has yet to be written. Treating Argentina, Brazil, India, Kenya, Korea, and Russia as key case studies, this volume outlines the major aspects of current tax codes and explores their economic and political implications. Examples of both the poorest and wealthiest developing countries, Argentina, Brazil, India, Kenya, Korea, and Russia uniquely demonstrate the diverse fiscal problems of tax reform. Each economy relies heavily on indirect and corporate income taxes, though recently some have reduced their tariff rates and have switched from excise to value-added taxes. There is a large, informal economy in most of these countries, and tax evasion by firms is a significant concern. As a result, tax revenue remains low, even though rates are as high as those in developed economies. Also, unconventional methods to collect revenue have been implemented, including bank debit taxes, state ownership of firms, and implicit taxes on individuals in the informal sector. Exploring these and other concerns, as well as changes in tax law, administration, and fiscal pressures, this comprehensive anthology clarifies the current landscape of tax administration and the economic future of the world's poorer economies.
Category: Business & Economics

Natural Resources And Sustainable Development

Author : Kathy Wilson Peacock
ISBN : MINN:31951D02812422D
Genre : Business & Economics
File Size : 78.17 MB
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There are more than 6 billion people living on Earth today, and the United Nations predicts that this number will surge to 9.1 billion by the year 2050. However, the natural resources necessary to sustain the world s population including freshwater, arable land, and fossil fuels are dwindling. In order to achieve sustainable development, the stress exerted on the environment by the world s population will have to be controlled through reduced rates of consumption. What steps must be taken to reduce humanity's global footprint and keep within the boundary of the planet's carrying capacity? What are the strategies that governments can pursue to reduce population growth and energy consumption and to preserve and increase the supply of freshwater and energy resources? Natural Resources and Sustainable Development explores the impact that overconsumption has had on natural resources as well as possible alternative strategies in the United States, China, India, Germany, and Brazil.
Category: Business & Economics

National Development Strategies

Author :
ISBN : 9211045797
Genre : Business & Economics
File Size : 81.97 MB
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This publication draws on the experience and dialoguess of the United Nations in the economic and social areas, providing suggestions on the means to achieve at the national level, the internationally-agreed development goals synthesized in the United Nations Development Agenda.--Publisher's description.
Category: Business & Economics

Privatization

Author : Gérard Roland
ISBN : 9780231141604
Genre : Business & Economics
File Size : 29.34 MB
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The privatization of large state-owned enterprises is one of the most radical policy developments of the last quarter century. Right-wing governments have privatized in an effort to decrease the size of government, while left-wing governments have privatized either to compensate for the failures of state-owned firms or to generate revenues. In this way, privatization has spread from Europe to Latin America, from Asia to Africa, reaching its zenith with Central and Eastern Europe's transition from socialism to capitalism. In many countries state ownership has been an important tool in bringing cheap water, energy, and transport to poorer segments of the population. In other instances, it has sponsored aggressive cutbacks, corruption, and cronyism. Privatization: Successes and Failures evaluates the practices and results of privatization in Eastern Europe, Africa, Latin America, and Asia. Featuring the world's leading economists and experts on privatization, this volume offers a broad and balanced analysis of specific privatization projects and uncovers some surprising trends. Partial privatization, for example, tends to be more widespread than one might think, and the effects of privatization on efficiency are generally mixed but rarely negative. Also, while privatization appears uncontroversial in competitive sectors, it becomes increasingly complex in more monopolistic sectors where good regulation is crucial. Privatization concludes with alternative frameworks for countries in Africa and other regions that seek to develop privatization policy and programs.
Category: Business & Economics

Africa

Author : Karl Wohlmuth
ISBN : 3825802566
Genre : History
File Size : 86.78 MB
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This volume XII of the African Development Perspectives Yearbook on AFRICA - COMMODITY DEPENDENCE, RESOURCE CURSE AND EXPORT DIVERSIFICATION presents and analyses policy-oriented papers, development projections, and proposals of how to overcome African countries' dependence on a few primary commodities. In country cases and comprehensive analyses, African countries' state of commodity dependence, their efforts to diversify exports, and their vulnerability to crises, conflicts and disasters are discussed. These problems are considered in the context of the continent's abundance of natural resources, especially with regard to the strategic oil resources of the continent. Resource curse problems are discussed in various contributions, focussing on Cote d'Ivoire, Angola, Sudan, Democratic Republic of Congo, Cameroon, and Nigeria. Full country cases for Nigeria and Cameroon highlight the export diversification issues by product and function. The implications for the required policy and institutional changes of overcoming the resource curse problems are analysed at the level of national, regional and sub-regional level. Book Reviews and Book Notes are included, and News and Information follow with up-to-date entries. This volume builds the foundation for a comprehensive strategy of policy reforms in Africa of how to escape the primary commodities dilemma. Complementary to this volume XII is volume XI on AFRICA - ESCAPING THE PRIMARY COMMODITIES DILEMMA. Both volumes are of use for all who work in African countries as officials, executives, managers, researchers, and policy-makers, but also for all those in the world-wide donor community who actively support Africa's development concerns at the international, regional, country, local and project levels. Development practitioners, government officials, business executives, and development researchers as well as media people will experience this volume XII and also the complementary volume XI as indispensable sources of insight, reference and inspiration.
Category: History