"The study of natural resource extraction in resource-rich countries often shows that plunder, rather than prosperity, has become the norm. Management of natural resources differs widely in every state; a close examination of the decision-making chains in various states highlights the key...

Recent research undertaken by the Bank and others, suggest that developing countries face substantially higher risks of violent conflict, and poor governance if highly dependent on primary commodities. Revenues from the legal, or illegal exploitation of natural resources have financed...