Turning Natural Resource Curse Into What It Should Be – Means to National Prosperity

2021 ◽  
Author(s):  
John Ifediora
Keyword(s):  
Natural Resource ◽  
Resource Curse ◽  
Natural Resource Curse

scholarly journals A Multivariate VAR Model for Evaluating Sustainable Finance and Natural Resource Curse in West Africa: Evidence from Nigeria and Ghana

2021 ◽  
Vol 13 (5) ◽  
pp. 2847
Author(s):  
Olatunji Abdul Shobande ◽  
Joseph Onuche Enemona
Keyword(s):  
Natural Resource ◽  
Critical Role ◽  
Resource Curse ◽  
Policy Implications ◽  
Vector Autoregressive ◽  
Natural Resource Curse ◽  
Cointegration Tests ◽  
Sustainable Finance ◽  
Private Investors ◽  
Sustainable Financing

The financial sector plays a critical role in society by mediating resources and assets within the economy between surplus and deficit units. Therefore, they have a great responsibility for the sustainability and prosperity of natural endowments. This study aimed to determine whether sustainable finance matters for the natural resource curse in Nigeria and Ghana. The empirical evidence is based on the Bayer and Hanck combined cointegration tests and Vector Autoregressive/Vector Error Correction Granger causality tests. The study highlights the importance of sustainable financing in natural resources management. Our findings also confirmed the existence of the financial resource curse in Nigeria and Ghana. Likewise, the medium through which sustainable finance affects the natural resource curse has been identified as the human development index (economic welfare). This current study has critical policy implications that suggest the need to establish a vibrant, sustainable financing strategy to assist domestic private investors with a strong interest in natural resource exploration and development, taking into account macroeconomic sustainability. Additionally, it also important to build a strong financial market which allows for policies designed to promote natural resource management.

scholarly journals Poverty, Inequality, and the Local Natural Resource Curse

2013 ◽  
Author(s):  
Norman Loayza ◽  
Alfredo Mier y Teran ◽  
Jamele Rigolini
Keyword(s):  
Natural Resource ◽  
Resource Curse ◽  
Natural Resource Curse

scholarly journals Oil and Governance in Uganda

2015 ◽  
Vol 5 (1) ◽  
pp. 40 ◽  
Author(s):  
Terrell George Manyak
Keyword(s):  
Developing Countries ◽  
Natural Resource ◽  
Resource Curse ◽  
Natural Resource Curse ◽  
Oil Companies ◽  
Long Run ◽  
Fragile Environment ◽  
Oil Deposits ◽  
The Government ◽  
Institutional Foundations

Many critical governance issues were created with the discovery of major oil deposits in Uganda.  Because developing countries like Uganda lack strong institutional foundations, it is widely assumed that riches flowing from oil will result in huge sums of money being diverted to politicians while the country ends up worse off in the long run. Uganda certainly faces this “natural resource curse,” but the potential for corruption is only one of many governance issues arising from the potential of oil riches. The government needs to work effectively with foreign oil companies and neighboring countries to recover and transport the oil. It must also establish institutions and procedures to manage its new oil economy.  Moreover, questions must be answered regarding ownership the oil producing lands and how the fragile environment of the country can be protected.  

scholarly journals Gold price volatility, tax revenue, and employment: can Burkina Faso's adaptation strategy avoid the natural resource curse?

2018 ◽  
Vol 23 (5) ◽  
pp. 543-557
Author(s):  
Delphine Carole Sisso ◽  
Olivier Beaumais
Keyword(s):  
Burkina Faso ◽  
Natural Resource ◽  
Computable General Equilibrium ◽  
Resource Curse ◽  
Price Volatility ◽  
Economic Benefits ◽  
Gold Price ◽  
Mining Sector ◽  
Natural Resource Curse ◽  
The Government

AbstractSince 2007, Burkina Faso's mining sector has grown quickly, with gold replacing cotton as the country's biggest export. The decline in gold prices since 2012, however, has hit the Burkina Faso economy hard. Using a static computable general equilibrium model, we assess whether – in a context of gold-price decline and volatility – an increase in the tax burden on the mining sector, as implemented by the government of Burkina Faso, is the appropriate way to avoid the natural resource curse. The results show that a tax policy based solely on increasing taxes on the gold sector brings only limited economic benefits, notably in terms of employment, and fails to significantly mitigate the effects of gold-price volatility.

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