For a growing number of countries in Africa the discovery and exploitation of natural resources is a great opportunity, but one accompanied by considerable risks. This book presents research on how to better manage the revenues and opportunities associated with natural resources.

In the presence of inequality a status-driven utility function reconciles the conflict between income-based and nutrition-based measures of poverty. Moreover, it can explain why the poor tend to save less, an established empirical fact in the developing countries. The result is independent of...