Discussion paper

DP8694 Natural resource wealth: the challenge of managing a windfall

Many countries have failed to use natural resource wealth to promote growth and development. They have been damaged by volatility of revenues, 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 paper explores the reasons for these failures and discusses policies to improve performance.

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Citation

Van Der Ploeg, F and A Venables (2011), ‘DP8694 Natural resource wealth: the challenge of managing a windfall‘, CEPR Discussion Paper No. 8694. CEPR Press, Paris & London. https://cepr.org/publications/dp8694