Escaping the resource curse

書誌事項

Escaping the resource curse

edited by Macartan Humphreys, Jeffrey D. Sachs, and Joseph E. Stiglitz ; foreword by George Soros

(Initiative for policy dialogue at Columbia / Joseph E. Stiglitz and Shari Spiegel, series co-editors)

Columbia University Press, c2007

  • : clothbound

タイトル別名

Escap. the resource curse

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注記

"... is the third volume in the Revenue Watch Institute's publications series."--P. [vii]

Includes bibliographical references and index

内容説明・目次

内容説明

The wealth derived from natural resources can have a tremendous impact on the economics and politics of producing countries. In the last quarter century, we have seen the surprising and sobering consequences of this wealth, producing what is now known as the "resource curse." Countries with large endowments of natural resources, such as oil and gas, often do worse than their poorer neighbors. Their resource wealth frequently leads to lower growth rates, greater volatility, more corruption, and, in extreme cases, devastating civil wars. In this volume, leading economists, lawyers, and political scientists address the fundamental channels generated by this wealth and examine the major decisions a country must make when faced with an abundance of a natural resource. They identify such problems as asymmetric bargaining power, limited access to information, the failure to engage in long-term planning, weak institutional structures, and missing mechanisms of accountability. They also provide a series of solutions, including recommendations for contracting with oil companies and allocating revenue; guidelines for negotiators; models for optimal auctions; and strategies to strengthen state-society linkages and public accountability. The contributors show that solutions to the resource curse do exist; yet, institutional innovations are necessary to align the incentives of key domestic and international actors, and this requires fundamental political changes and much greater levels of transparency than currently exist. It is becoming increasingly clear that past policies have not provided the benefits they promised. Escaping the Resource Curse lays out a path for radically improving the management of the world's natural resources.

目次

Foreword, by George Soros Acknowledgments 1. Introduction: What Is the Problem with Natural Resource Wealth?, by Macartan Humphreys, Jeffrey D. Sachs, and Joseph E. Stiglitz Part I: Dealing with Oil Corporations 2. What Is the Role of the State?, by Joseph E. Stiglitz 3. How to Evaluate the Fiscal Terms of Oil Contracts, by David Johnston 4. How to Negotiate an Oil Agreement, by Jenik Radon 5. How Best to Auction Oil Rights, by Peter Cramton Part II: Managing the Macroeconomy 6. Are Oil Producers Rich?, by Geoffrey Heal 7. How to Handle the Macroeconomics of Oil Wealth, by Jeffrey D. Sachs 8. The Political Economy of Natural Resource Funds, by Macartan Humphreys and Martin E. Sandbu Part III: Handling the Politics 9. How Mineral-Rich States Can Reduce Inequality, by Michael L. Ross 10. Ensuring Fairness: The Case for a Transparent Fiscal Social Contract, by Terry Lynn Karl 11. Critical Issues for a Revenue Management Law, by Joseph C. Bell and Teresa Maurea Faria 12. Future Directions for the Management of Natural Resources, by Macartan Humphreys, Jeffrey D. Sachs, and Joseph E. Stiglitz Appendices 1. Abridged Sao Tome and Principe Oil Law 2. Abridged Timor-Leste Oil Law 3. Glossary of Oil Terms 4. Web Site References Contributors Index

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