Rents to Riches?: The Political Economy of Natural Resource-Led Development
Written by Naazneen Barma, Kai Kaiser, Tuan Minh Le, Lorena Vinuela
Rents to Riches? focuses on the political economy of the detailed decisions that governments make at each step of the natural resource management (nrm) value chain. Many resource-dependent developing countries pursue seemingly shortsighted and suboptimal policies when extracting, taxing, and investing resource rents. The book contextualizes these micro-level outcomes with an emphasis on two central political economy dimensions: the degree to which governments can make credible inter-temporal commitments to both resource developers and citizens, and the degree to which governments are inclusive and inclined to turn resource rents into public goods.
Almost 1.5 billion people live in the more than 50 World Bank client countries classified as resource-dependent. A detailed understanding of the way political economy characteristics affect the nrm decisions made in these countries by governments, extractive developers, and society can improve the design of interventions to support welfare-enhancing policy making and governance in the natural resource sectors. Featuring case study work from Africa (Angola, the Democratic Republic of Congo, Ghana, Niger, Nigeria), East Asia and Pacific (the Lao People’s Democratic Republic, Mongolia, Timor-Leste), and Latin America and the Caribbean (Bolivia, Chile, Ecuador, Mexico, Trinidad and Tobago), the book provides guidance for government clients, domestic stakeholders, and development partners committed to transforming natural resource rents into sustainable development riches.
Read the book here.