Proving the old spell wrong: New African hydrocarbon producers and the 'resource curse'
Year: 2014
Type: report
Abstract: Avoiding the ‘resource curse’ will be key to turning oil and gas discoveries into sustainable development for new African producers. The article focuses on international and national policy innovations that can cut the economic, institutional and cultural Gordian knot behind the curse. ‘Oil funds’ have a disappointing record; best practices on why and how to use them are ambiguous. By contrast, the Extractive Industry Transparency Initiative has triggered learning processes of strengthening momentum. Leveraging transparency toward accountability through informed national policy debates is now the central policy challenge for new African producers. Meanwhile, Corporate Social Responsibility has evolved beyond health and safety to cover a firm’s environmental and social impact and can be mobilized in the form of developmentsupportive partnerships with investing companies. Much of past policy innovation has been defensive in nature, however. The post-2015 Sustainable Development Goals proposed by the UN High Level Panel present governments, companies and stakeholders with a shared positive agenda to eradicate poverty and turn natural resources into sustainable development.
Author: Albert Bressand
Institution: Columbia University
Language: English
Domain: Social Sciences
Open Access status: green
Funder: Rijksuniversiteit Groningen
OpenAlex ID: W2585966053