Resource-rich countries tend to experience slower economic growth and more social problems than do less-endowed countries—a phenomenon dubbed the “resource curse.” But it turns out that in many cases, economic growth begins to underperform long before the first drop of oil is produced; this we call the “presource curse.”
NRGI set out to collect total oil, gas and mining revenue data for the countries included in the Resource Governance Index to find out how many dollars flow to governments that mismanage the handling of their natural resources.
NRGI is publishing case studies on South Africa, Tanzania and Zambia that describe alternative legal and institutional mechanisms that these countries have put in place to control the price of mineral exports, operational and capital expenditures, and the cost of debt.
With the Open Government Partnership Global Summit coming up 7-9 December in Paris, government reformers and civil society campaigners working on the extractives and land sectors will be pleased to see that contract transparency and environmental disclosure will likely feature in the summit outcome document.
With the Open Government Partnership Paris Summit coming up 7-9 December, government reformers and civil society campaigners working on the extractives and land sectors will be pleased to see that contract transparency and environmental disclosure will likely feature in the summit outcome document, the Paris Declaration.
A 10-year boom in the prices of many commodities drew to a close last year. During previous booms, governments in developing countries have often squandered wealth accumulated through oil, gas and minerals, directing little of the proceeds toward effective investment or saving. When boom turned to bust, resource-rich countries were caught out, forced into debt spirals.
The evidence is mounting: contract transparency in extractive industries is becoming the norm. This was clear during two contract-focused events at the recent EITI conference—an informal learning and sharing side event and an official conference panel event.