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Investing mineral wealth in development assets : Ghana, Liberia and Sierra Leone

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  • Boakye, Daniel
  • Dessus, Sebastien
  • Foday, Yusuf
  • Oppong, Felix

Abstract

Promoting sustainable development calls for investing rents from exhaustible mineral resources into human, physical and social capital, so as to protect the wealth of countries and the economic opportunities of their citizens. This has been difficult in well-governed Ghana in the last decade; and might prove to be extremely challenging in post-conflict countries such as Liberia and Sierra Leone, where preference for the present is high and institutions to collect rents and convert them into effective investments weak. The paper reviews the countries'degrees of preparedness to confront the various challenges associated with ongoing mineral booms, and tries to identify country-specific policy areas of particular relevance and potential impact for sustainable development.

Suggested Citation

  • Boakye, Daniel & Dessus, Sebastien & Foday, Yusuf & Oppong, Felix, 2012. "Investing mineral wealth in development assets : Ghana, Liberia and Sierra Leone," Policy Research Working Paper Series 6089, The World Bank.
    • Handle: RePEc:wbk:wbrwps:6089
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    References listed on IDEAS

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    1. Alan Gelb, Kai Kaiser, and Lorena Vinuela, 2012. "How Much Does Natural Resource Extraction Really Diminish National Wealth? The Implications of Discovery - Working Paper 290," Working Papers 290, Center for Global Development.
    2. Banful, Afua Branoah, 2011. "Do formula-based intergovernmental transfer mechanisms eliminate politically motivated targeting? Evidence from Ghana," Journal of Development Economics, Elsevier, vol. 96(2), pages 380-390, November.
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    Cited by:

    1. Herrera, Santiago & Aykut, Dilek, 2014. "Long-run growth in Ghana : determinants and prospects," Policy Research Working Paper Series 7115, The World Bank.
    2. Roy Maconachie & Radhika Srinivasan & Nicholas Menzies, 2015. "Responding to the Challenge of Fragility and Security in West Africa," World Bank Publications - Reports 22511, The World Bank Group.
    3. Committee for Development Policy Secretariat, 2018. "Lessons Learned in Developing Productive Capacity: Fourteen Case Studies," CDP Background Papers 037, United Nations, Department of Economics and Social Affairs.
    4. Abdul-Gafaru Abdulai, 2017. "Competitive clientelism and the political economy of mining in Ghana," Global Development Institute Working Paper Series esid-078-17, GDI, The University of Manchester.
    5. Sarrakh, Redouane & Renukappa, Suresh & Suresh, Subashini, 2022. "Evaluation of challenges for sustainable transformation of Qatar oil and gas industry: A graph theoretic and matrix approach," Energy Policy, Elsevier, vol. 162(C).

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