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Natural Resource Wealth: The Challenge of Managing a Windfall

  • Frederick van der Ploeg
  • Anthony J. Venables

    ()

    (Oxford Centre for the Analysis of Resource Rich Economies, Department of Economics, University of Oxford, Oxford OX1 3UQ, United Kingdom)

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.

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Article provided by Annual Reviews in its journal Annual Review of Economics.

Volume (Year): 4 (2012)
Issue (Month): 1 (07)
Pages: 315-337

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Handle: RePEc:anr:reveco:v:4:y:2012:p:315-337
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