Meeting the challenge of the resource curse: International experiences in managing the risks and realising the opportunities of non-renewable natural resource revenue management

Research reports and studies
January 2006
Michael Warner

Countries endowed with non-renewable natural resources (NRNR) are faced with substantial opportunities, but also great risks. Get the choice of industrial and economic policy, their sequencing, and alignment with global value chains right; support this with fiscal prudence, adequate institutional capacity and civil society participation; and NRNR revenues can be a force for sustained economic growth and social development. Get the policies, sequencing and alignment wrong; and ignore issues of absorptive capacity and good governance; and international experience tell us that a 'boom' in NRNR revenues can become a 'curse', depressing economic growth, worsening poverty and increasing political instability.

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