Development economists have found evidence that an abundance in natural resources hinders economic growth, contrary to conventional expectations. This finding is called the resource curse hypothesis. The major questions this paper addresses are: does the resource curse hypothesis apply to...

Donor interest in the extractives sector is based upon the premise that it represents an opportunity to improve a country’s development prospects. However, in many cases the presence of extractive resources is associated with poor economic performance. As a result, some donors are trying a...

The continent of Africa is one of the most richly endowed continents with natural resources that would have placed it on a world map as the most developed continent but not many countries have succeeded in turning the revenues from these natural resources to enduring economic benefits. This...

The management of revenues from exhaustible natural resources involves a number of challenges. In this paper, we argue that the standard policy advice to managers of resource revenues has been dominated by short-termism and the lack of a perspective on economic development and structural...