Natural resource wealth: the challenge of managing a windfall

Frederick Van Der Ploeg, Anthony J. Venables

Research output: Contribution to journalArticleResearchpeer-review

37 Citations (Scopus)

Abstract

Many countries have failed to use natural resource wealth to promote growth and development. They have been damaged by the volatility of revenues and have failed to save a sufficiently high proportion of their resource revenues and failed to make high-return investments to support diversification of their economies. This review explores the reasons for these failures and discusses policies to improve performance.

Original languageEnglish
Pages (from-to)315-337
Number of pages23
JournalAnnual Review of Economics
Volume4
DOIs
Publication statusPublished - Jul 2012
Externally publishedYes

Keywords

  • absorptive capacity
  • Dutch disease
  • fiscal rules
  • managing windfalls
  • public investment
  • resource curse
  • volatility

Cite this