Countries face both challenges and opportunities in using their extractive industries to achieve more inclusive development - particularly in the developing world. Yet while a large national income can result from resource wealth, it can also be associated with acute social inequality and deep...

Growth, poverty reduction, and social peace are all undermined when public expenditure management and taxation are weak and when the fiscal deficit and public debt are not managed successfully. And large-scale aid and debt relief cannot work without a good fiscal system. The macroeconomic...