Extractive industries (oil, gas, and mining) have the potential to generate significant wealth for developing countries and to serve as important catalysts for growth. They generate large revenues - through royalties, taxation, and exports- and create employment. In some cases, however, resource wealth is associated with political turmoil, deteriorating standards of living, civil conflict, and elite capture. This phenomenon is widely described as the ?resource curse? and has been attributed to a number of factors, including weak political institutions and incentives.
File Type: pdf
Categories: Community Engagement Practices