This paper suggests that an optimal local content policy in the context of flawed institutions is a more minimal one than those typically pursued by developing countries with recently discovered petroleum reserves. We argue that local content requirements need to be seen as a public expenditure...

The fisheries sector in sub-Saharan Africa has benefitted from high and increasing amounts of foreign aid for over four decades. In the 1990s when evidence emerged that most stocks were overcapitalized and overfished, the effectiveness of fisheries development aid, particularly those directed at...

This paper investigates the sources of variability in the mobilization of domestic tax revenue in oil-producing countries. It argues that the type of natural resources exploited during colonial rule can affect the contemporary levels of domestic tax revenue in oil countries. We test this...

Motivated by the fact that the taxation of natural resources is both crucial and particularly challenging for developing countries, this paper draws on a unique dataset to produce empirical evidence on two issues pertaining to the fiscal impact of oil. On a sample of 31 countries during the...

In the context of falls in extractive commodities prices since 2011, this paper examines the history of thinking about the interplay between extractives and economic development. Just as 'the resource curse' fails as a generic explanation on account of the huge diversity in country contexts, so...

This paper analyses the evolution of fiscal and monetary variables in Ghana, from the discovery of oil in 2007 through to 2014. It documents the deterioration of fiscal and monetary discipline over this period, which resulted in a rebound of debt, a deterioration of the external balance, and a...

This study provides an analysis of the aid-private capital flows-growth nexus for Ghana. It is premised on the argument that Ghana's new status as a middle income country plus the start of oil production is bound to result in a reduction in ODA inflows in the long term. However in the short to...

We show that the incorporation of offshore entities increases when oil and gas exploration licences are awarded. We exploit leaked data on the incorporation of shell companies and detailed information on tax havens and the awarding rounds of oil licences to construct a new data set covering 119...

Oil was discovered in the United Arab Emirates (UAE) just 50 years ago. During that time, UAE has been able to transform itself into a rapidly modernizing country, which is fast becoming a major economic hub and a key player on the international economic landscape. This paper discusses a number...

This paper examines a broad range of opportunities for addressing the pressing human development needs of low-income countries by using new oil, gas, and mineral discoveries. It assesses how much of an impact can be made on the funding gaps for health and education by new oil and gas revenues,...