Governments that lack the capacity to mine resources themselves have to attract foreign direct investment. However, since resources are not renewable, countries need to capture a 'fair' share of mineral resource rent to promote their development. While the sharp rise of the world prices of most...

The challenge of developing countries that have natural resources is to attract international investors for the valuation of that wealth and to get a « fair » share of oil revenue. So, the « design » of the oil tax system determines the level of resource exploitation and the oil...