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

Author

Listed:
  • 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

    as
    1. Ayee, Joseph & Soreide, Tina & Shukla, G. P. & Le, Tuan Minh, 2011. "Political economy of the mining sector in Ghana," Policy Research Working Paper Series 5730, The World Bank.
    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. Roy Maconachie & Radhika Srinivasan & Nicholas Menzies, 2015. "Responding to the Challenge of Fragility and Security in West Africa," World Bank Other Operational Studies 22511, The World Bank.

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    Keywords

    Debt Markets; Economic Theory&Research; Public Sector Economics; Environmental Economics&Policies; Public Sector Expenditure Policy;

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