Departmental Papers

Boom, Bust, or Prosperity? Managing Sub-Saharan Africa’s Natural Resource Wealth

Author/Editor:

Charlotte J. Lundgren ; Alun H. Thomas ; Robert C York

Publication Date:

August 27, 2013

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

Sizeable natural resource endowments and potentially large financial inflows from their extraction provide an unparalleled opportunity for economic growth and development in a growing number of sub-Saharan African countries. Empirical evidence suggests, however, that translating this resource wealth into stronger economic performance and a higher standard of living has proven challenging. Much has been written about the resource curse. This publication focuses on solutions to the challenges and outlines the main policy considerations and options in managing natural resource wealth, drawing on experience within and outside sub-Saharan Africa and referring closely to the latest analysis and policy advice in this area by the IMF, the World Bank, and leading academic research. A key feature of each chapter is a recommended reading list for those who wish additional, more in-depth material on these issues to further inform policymakers and other stakeholders on the theoretical and analytical underpinnings of the policy advice.

Series:

Departmental Paper No. 2013/003

Subject:

Environment Expenditure Fiscal policy Fiscal stance Natural resources Public investment and public-private partnerships (PPP) Public investment spending

Notes:

Full text also available in French, andPortuguese