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Understanding the boom: A framing paper

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  • Mark Henstridge

Abstract

A significant natural resource discovery creates excited popular expectations of imminent wealth. But the size of a boom is usually overestimated and the delay in receiving revenues is underestimated. This paper takes stock of the sequencing, timing, and scale of the development of a natural resource endowment; reviews the 'resource curse' literature; looks at benchmarks of scale and timing so as to put potential booms into the context of the challenges of growth and structural change in Africa; and, finally, gathers together observations on policy and institutional changes.

Suggested Citation

  • Mark Henstridge, 2018. "Understanding the boom: A framing paper," WIDER Working Paper Series wp-2018-178, World Institute for Development Economic Research (UNU-WIDER).
    • Handle: RePEc:unu:wpaper:wp-2018-178
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    References listed on IDEAS

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