Too often, developing nations with natural resource wealth face greater conflict, corruption, and poverty than developing nations without an abundance of oil, gas or minerals. There are solutions to this "resource curse," but without fundamental political changes and increased levels of transparency, countries struggle to convert their own natural resource wealth into lasting benefits for the public good. In Escaping the Resource Curse, leading economists, lawyers, and political scientists explore the challenges that go along with an abundance of a natural resources and offer a series of solutions in areas including oil contracts and negotations, revenue allocation guidelines; auction models and strategies for strengthening state-society links and public accountability.
Edited by Macartan Humphreys, Jeffrey Sachs and Joseph Stiglitz, with a foreword by George Soros, Escaping the Resource Curse was produced by the Revenue Watch Institute, in partnership with the Earth Institute and publisher Columbia University Press.
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