The governance of natural resource wealth is widely considered to constitute a key determinant in whether the extraction of natural resources proves to be a blessing or a curse. What is meant by governance can span a wide range of components, while the steps to achieving good governance remain...

The governance of natural resource wealth is widely considered to constitute a key determinant in whether the extraction of natural resources proves to be a blessing or a curse. What is meant by governance can span a wide range of components, while the steps to achieving good governance remain...

Sub-Saharan Africa has vast non-fuel mineral resources that in some countries constitute major shares of their gross domestic product. The region also contains large oil and natural gas resources, which have been reliable sources of revenue for decades. The region as a whole may be able to...

Major oil and gas discoveries are often associated with excitement and jubilation among citizens and government officials. But the extent to which discoveries substantially alter citizen expectations about economic conditions in a country remains an open question. The paper combines...

Oil discoveries can constitute a major positive and exogenous shock to economic activity, but the resource curse hypothesis would suggest they might also be detrimental to growth over the long run. This paper utilizes a new methodology for estimating growth underperformance to examine the extent...

This paper investigates the characteristics of resource-backed lending across Sub-Saharan Africa. To shed light on this type of lending, the paper presents new information on 30 resource-backed loans between 2004 and 2018, identified through publicly available information. These loans were...

This book examines the role for natural resource wealth in driving Africa's economic transformation and the implications of the low-carbon transition for resource-rich economies. Resource wealth remains central to most Sub-Saharan African economies, and significant untapped potential is in the...

Are global incomes converging or diverging Despite recent empirical evidence supporting the hypothesis of unconditional beta convergence, this paper argues that such findings overlook the stark reality facing the world's poorest people. Many lower income countries, including those among the...