Natural Resource Wealth: The Challenge of Managing a Windfall

Posted: 1 Sep 2012

See all articles by Rick van der Ploeg

Rick van der Ploeg

University of Oxford

Anthony J. Venables

University of Oxford; Centre for Economic Policy Research (CEPR)

Date Written: July 2012

Abstract

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

Suggested Citation

van der Ploeg, Frederick and Venables, Anthony J., Natural Resource Wealth: The Challenge of Managing a Windfall (July 2012). Annual Review of Economics, Vol. 4, pp. 315-337, 2012. Available at SSRN: https://ssrn.com/abstract=2139258 or http://dx.doi.org/10.1146/annurev-economics-080511-111003

Frederick Van der Ploeg

University of Oxford ( email )

Manor Road Building
Manor Road
Oxford, OX1 3BJ
United Kingdom

Anthony J. Venables (Contact Author)

University of Oxford ( email )

Mansfield Road
Oxford, Oxfordshire OX1 4AU
United Kingdom

Centre for Economic Policy Research (CEPR)

London
United Kingdom

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