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Using natural resources for development: why has it proven so difficult?

Abstract:

Developing economies have found it hard to use natural resource wealth to improve their economic performance. Utilizing resource endowments is a multistage economic and political problem that requires private investment to discover and extract the resource, fiscal regimes to capture revenue, judicious spending and investment decisions, and policies to manage volatility and mitigate adverse impacts on the rest of the economy. Experience is mixed, with some successes (such as Botswana and Malay...

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Publication status:
Published
Peer review status:
Peer reviewed

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Publisher copy:
10.1257/jep.30.1.161

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Institution:
University of Oxford
Division:
SSD
Department:
Economics
Sub department:
OxCarre
Role:
Author
Publisher:
American Economic Association
Journal:
Journal of Economic Perspectives More from this journal
Volume:
30
Issue:
1
Publication date:
2016-01-01
Acceptance date:
2015-12-21
DOI:
ISSN:
0895-3309
Keywords:
Pubs id:
pubs:630226
UUID:
uuid:e8ddf7ed-29f2-45ec-b1e4-6dd9a035b29e
Local pid:
pubs:630226
Source identifiers:
630226
Deposit date:
2016-06-28

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