The presence of natural resources poses a number of potential economic challenges, especially for developing countries. This column argues resource-rich countries need to look beyond the so-called resource curse and put into action innovative policies and institutions to confront their many challenges and reap the benefits of widely shared natural-resource wealth.
All the latest research from OxCarre and beyond
Monday, July 9, 2012
Beyond the curse: Policies to harness the power of natural resources
New VoxEU column by Rabah Arezki, Thorvaldur Gylfason, and Amadou Sy:
Managing a Modest Boom: Oil revenues in Uganda
New OxCarre Research Paper by Mark Henstridge and John Page:
This paper seeks to de-mystify the opportunities and challenges of oil in Uganda: not much oil revenue will arrive for at least a decade; it will then climb to 3-9 percent of GDP for about 20 years. It will not transform Uganda, but can be beneficial or disruptive. To manage a modest boom, policy needs to focus on growth and competitiveness now. Careful choices on spending and the quality of public investment are essential. Institutional and regulatory reform, infrastructure, skills and specialist knowledge can strengthen the investment climate. A strategy for economic diversification focused on agriculture, ‘investing to invest’, and connecting to the coast is also needed.
This paper seeks to de-mystify the opportunities and challenges of oil in Uganda: not much oil revenue will arrive for at least a decade; it will then climb to 3-9 percent of GDP for about 20 years. It will not transform Uganda, but can be beneficial or disruptive. To manage a modest boom, policy needs to focus on growth and competitiveness now. Careful choices on spending and the quality of public investment are essential. Institutional and regulatory reform, infrastructure, skills and specialist knowledge can strengthen the investment climate. A strategy for economic diversification focused on agriculture, ‘investing to invest’, and connecting to the coast is also needed.
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Welcome to the OxCarre blog. Here you will find announcements about all the latest research from the Oxford Centre for the Analysis of Resource Rich Economies (OxCarre) and beyond!
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