Natural resource wealth: the challenge of managing a windfall

Frederick Van Der Ploeg; Anthony J. Venables

doi:10.1146/annurev-economics-080511-111003

Natural resource wealth: the challenge of managing a windfall

Frederick Van Der Ploeg, Anthony J. Venables

Research output: Contribution to journal › Article › Research › peer-review

58 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 language	English
Pages (from-to)	315-337
Number of pages	23
Journal	Annual Review of Economics
Volume	4
DOIs	https://doi.org/10.1146/annurev-economics-080511-111003
Publication status	Published - Jul 2012
Externally published	Yes

Keywords

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

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10.1146/annurev-economics-080511-111003

Cite this

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KW - public investment

KW - resource curse

KW - volatility

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Natural resource wealth: the challenge of managing a windfall

Abstract

Keywords

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