Glada Lahn and Paul Stevens
- Published in print:
- 2018
- Published Online:
- November 2018
- ISBN:
- 9780198817369
- eISBN:
- 9780191858871
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/oso/9780198817369.003.0005
- Subject:
- Economics and Finance, Development, Growth, and Environmental
In the context of falls in extractive commodities prices since 2011, this chapter examines the history of thinking about the interplay between extractive industries and economic development. Just as ...
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In the context of falls in extractive commodities prices since 2011, this chapter examines the history of thinking about the interplay between extractive industries and economic development. Just as ‘the resource curse’ fails as a generic explanation on account of the huge diversity in country contexts, so does the one-size-fits-all governance solution, which international aid agencies, industry, and banks have promoted in support of ‘extractives-led growth’ since the early 2000s. Asking why the sector has not in many cases yielded more durable economic gains reveals the need for greater attention to a country’s capacity to diversify, options for pacing development, and appropriate performance measures.Less
In the context of falls in extractive commodities prices since 2011, this chapter examines the history of thinking about the interplay between extractive industries and economic development. Just as ‘the resource curse’ fails as a generic explanation on account of the huge diversity in country contexts, so does the one-size-fits-all governance solution, which international aid agencies, industry, and banks have promoted in support of ‘extractives-led growth’ since the early 2000s. Asking why the sector has not in many cases yielded more durable economic gains reveals the need for greater attention to a country’s capacity to diversify, options for pacing development, and appropriate performance measures.
