Natural resource wealth: the challenge of managing a windfall

Working paper

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.

Authors: Venables, A; Van der Ploeg, R

• Publication status: Published
• Publisher: University of Oxford
• Series: OxCarre Papers
• Publication date: 2011-11-08
• Paper number: 75
• Keywords: resource curse; fiscal rules; volatility; Dutch disease; absorptive capacity; public investment; managing windfalls