This paper compares and contrasts the economic situation in Tanzania during the resurgence of gold and diamond production after 1999, with the situation that is now emerging as the country begins to exploit very large resources of natural gas mainly from the Indian Ocean. The mining boom after...

This paper examines the possible implications for the financial systems of low-income African economies and in particular Tanzania of their stated aspiration to achieve middle-income status. In doing so it finds little evidence that the mere increase of gross domestic product per capita will...