The management of revenues from exhaustible natural resources involves a number of challenges. In this paper, we argue that the standard policy advice to managers of resource revenues has been dominated by short-termism and the lack of a perspective on economic development and structural...

There are large volumes of gas offshore Tanzania, which has raised hopes of a boom. But those hopes look set to be disappointed. A boom would depend on there being a sizeable flow of revenue to government from producing and exporting gas. This paper sets out the scale of the gas, and the array...

A significant natural resource discovery creates excited popular expectations of imminent wealth. But the size of a boom is usually overestimated and the delay in receiving revenues is underestimated. This paper takes stock of the sequencing, timing, and scale of the development of a natural...

Although finding "new frontiers", or "reserves", of natural resources to exploit has been the basis of much of global economic development for the past five hundred years, frontier-based development does not appear to be producing sustained, high rates of growth in today's poorer economies....

The emergence of a mass market for electric vehicles (EVs) offers considerable development opportunities for resource exporters, given their intensive raw material requirements, including for cobalt, nickel, lithium, copper, aluminium, and manganese. To exploit the benefits of new demand,...

Economists now recognize that, along with physical and human capital, environmental resources should be viewed as important economic assets, which can be called. Three recent debates have emerged over the role of natural capital in economic development. First, as many ecological services are...

This paper empirically analyzes the influence of rents from natural resources on the composition of government spending and investigates whether the relationship differs between democracies and autocracies. Both panel data and instrumental variable regressions suggest that there is a negative...

Using a dynamic model with non-renewable natural resources and endogenous knowledge creation, the paper analyses economic development under conditions which are generally considered as most unfavourable. We assume poor substitution between primary input factors, positive population growth and a...

Do resource-extraction booms crowd out postsecondary education? We explore this question by examining the higher education-related decisions of Chilean high school graduates during the 2000s commodities boom. We find mineral extraction increases a person's likelihood of enrolling in...

In recent years economists have recognized that, along with physical and human capital, environmental resources should be viewed as important economic assets, which can be called natural capital. However, the services provided by natural capital are unique. They include the use of resources for...