Natural resource wealth: the challenge of managing a windfall

Frederick Van Der Ploeg, Anthony J. Venables

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41 Citations (Scopus)


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
Publication statusPublished - Jul 2012
Externally publishedYes


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

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