Majority State Ownership of Oil and Mining Sectors in Africa PDF Download
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Author: John James Quinn
Publisher: Taylor & Francis
ISBN: 0429751869
Category : Political Science
Languages : en
Pages : 171
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Book Description
Majority State Ownership of Oil and Mining Sectors in Africa: The Resource Curse Undermined shows that countries in sub-Saharan Africa with majority state ownership of their major oil or mineral export sectors suffered from more severe versions of the natural resource curse than other similar countries. Examining natural resource exporting nations in sub-Saharan Africa between 1966 to 2000, Quinn shows that on average, states with majority state ownership of these sectors featured lower growth, lower incomes, declining alternative export sectors, more debt, lower levels of investment, lower levels of political and civil rights, and more domestic conflict than other similar countries. These results remained fairly consistent across both cross-country data, as well as in paired case studies. One surprise finding is that these countries either had depreciating currencies, or did not feature high levels of currency appreciation, on average, which is inconsistent with resource curse literature predictions. Rather, most countries with majority state ownership had high levels of currency overvaluation – which operated in a similar manner as currency appreciation. This work should appeal to students and faculty interested in the political economy of development, the natural resource curse, and African development, as well as politicians, policy makers, and NGO workers working in these areas. The strong recommendation of the book is that governments should control 50% or less of these sectors.
Author: John James Quinn
Publisher: Taylor & Francis
ISBN: 0429751869
Category : Political Science
Languages : en
Pages : 171
Get Book Here
Book Description
Majority State Ownership of Oil and Mining Sectors in Africa: The Resource Curse Undermined shows that countries in sub-Saharan Africa with majority state ownership of their major oil or mineral export sectors suffered from more severe versions of the natural resource curse than other similar countries. Examining natural resource exporting nations in sub-Saharan Africa between 1966 to 2000, Quinn shows that on average, states with majority state ownership of these sectors featured lower growth, lower incomes, declining alternative export sectors, more debt, lower levels of investment, lower levels of political and civil rights, and more domestic conflict than other similar countries. These results remained fairly consistent across both cross-country data, as well as in paired case studies. One surprise finding is that these countries either had depreciating currencies, or did not feature high levels of currency appreciation, on average, which is inconsistent with resource curse literature predictions. Rather, most countries with majority state ownership had high levels of currency overvaluation – which operated in a similar manner as currency appreciation. This work should appeal to students and faculty interested in the political economy of development, the natural resource curse, and African development, as well as politicians, policy makers, and NGO workers working in these areas. The strong recommendation of the book is that governments should control 50% or less of these sectors.
Author: Mr. Ernesto Ramirez Rigo
Publisher: International Monetary Fund
ISBN: 1513594087
Category : Business & Economics
Languages : en
Pages : 153
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Book Description
Prior to the COVID-19 shock, the key challenge facing policymakers in the Middle East, North Africa, and Central Asia region was how to generate strong, sustainable, job-rich, inclusive growth. Post-COVID-19, this challenge has only grown given the additional reduction in fiscal space due to the crisis and the increased need to support the recovery. The sizable state-owned enterprise (SOE) footprint in the region, together with its cost to the government, call for revisiting the SOE sector to help open fiscal space and look for growth opportunities.
Author: International Monetary Fund. Fiscal Affairs Dept.
Publisher: International Monetary Fund
ISBN: 1498340067
Category : Business & Economics
Languages : en
Pages : 82
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Book Description
Better designed and implemented fiscal regimes for oil, gas, and mining can make a substantial contribution to the revenue needs of many developing countries while ensuring an attractive return for investors, according to a new policy paper from the International Monetary Fund. Revenues from extractive industries (EIs) have major macroeconomic implications. The EIs account for over half of government revenues in many petroleum-rich countries, and for over 20 percent in mining countries. About one-third of IMF member countries find (or could find) resource revenues “macro-critical” – especially with large numbers of recent new discoveries and planned oil, gas, and mining developments. IMF policy advice and technical assistance in the field has massively expanded in recent years – driven by demand from member countries and supported by increased donor finance. The paper sets out the analytical framework underpinning, and key elements of, the country-specific advice given. Also available in Arabic: ????? ??????? ?????? ???????? ???????????: ??????? ???????? Also available in French: Régimes fiscaux des industries extractives: conception et application Also available in Spanish: Regímenes fiscales de las industrias extractivas: Diseño y aplicación
Author: Punam Chuhan-Pole
Publisher: World Bank Publications
ISBN: 1464808201
Category : Business & Economics
Languages : en
Pages : 245
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Book Description
This study focuses on the local and regional impact of large-scale gold mining in Africa in the context of a mineral boom in the region since 2000. It contributes to filling a gap in the literature on the welfare effects of mineral resources, which, until now, has concentrated more on the national or macroeconomic impacts. Economists have long been intrigued by the paradox that a rich endowment of natural resources may retard economic performance, particularly in the case of mineral-exporting developing countries. Studies of this phenomenon, known as the “resource curse,†? examine the economy-wide consequences of mineral exports.1 Africa’s resource boom has lifted growth, but has been less successful in improving people’s welfare. Yet much of the focus in academic and policy circles has been on appropriate management of the macro-fiscal and governance risks that have historically undermined development outcomes. This study focuses instead on the fortune of local communities where resources are located. It aims to better inform public policy and corporate behavior on the welfare of communities in Africa in which the extraction of resources takes place.
Author: John James Quinn
Publisher: Lexington Books
ISBN: 0739196456
Category : Political Science
Languages : en
Pages : 395
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Book Description
Global Geopolitical Power and African Political and Economic Institutions: When Elephants Fight describes the emergence and nature of the prevailing African political and economic institutions in two periods. In the first, most countries adopted political and economic institutions that funneled significant levels of political and economic power to the political elites, usually through one- or no-party (military) political systems, inward-oriented development policies, and/ or state-led—and often state-owned—industrialization. In the second period, most countries adopted institutions that diluted the overarching political and economic power of ruling elites through the adoption of de jure multiparty electoral systems, more outward-oriented trade policies, and the privatization of many state owned or controlled sectors, though significant political and economic power remains in their hands. The choices made in each period were consistent with prevailing ideas on governance and development, the self-interests of political elites, and the perceived availability of support or autonomy vis-à-vis domestic, regional, and international sources of power at the time. This book illustrates how these two region-wide shifts in prevailing political and economic institutions and practices of Africa can be linked to two prior global geopolitical realignments: the end of WWII with the ensuing American and Soviet led bipolar system, and the end of the Cold War with American primacy. Each period featured changed or newly empowered international and regional leaders with competing national priorities within new intellectual and geopolitical climates, altering the opportunities and constraints for African leaders in instituting or maintaining particular political and economic institutions or practices. The economic and political institutions of Africa that emerged did so as a result of a complex mix of contending domestic, regional, and international forces (material and intellectual)—all which were themselves greatly transformed in the wake of these two global geopolitical realignments.
Author: Bonnie Campbell
Publisher: IDRC
ISBN: 074532939X
Category : Business & Economics
Languages : en
Pages : 290
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Book Description
The continent of Africa is rich in minerals needed by Western economies, but rather than forming the basis for economic growth the mining industry contributes very little to African development Investigating the impact of the 2003 Extractive Industries Review on a number of African countries, the contributors find the root of the problem in the controls imposed on the African countries by the IMF and World Bank. They aim to convince academics, governments and industry that regulation needs to be reformed to create a mining industry favourable towards social, economic and environmental development. The book takes a multidisciplinary approach and provides a historical perspective of each country, making it ideal for students of development studies and development organizations.
Author: Philip Andrews-Speed
Publisher: Routledge
ISBN: 1136732357
Category : Business & Economics
Languages : en
Pages : 245
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Book Description
This book provides a critical overview of how China’s growing need for oil imports is shaping its international economic and diplomatic strategy and how this affects global political relations and behaviour. It draws together the various dimensions of China’s international energy strategy, and provides insights into the impact of this on China’s growing presence across the world.
Author: International Monetary Fund. Fiscal Affairs Dept.
Publisher: International Monetary Fund
ISBN: 1513514806
Category : Business & Economics
Languages : en
Pages : 154
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Book Description
This Technical Assistance report reviews South Africa’s tax system and also examines the fiscal regime with a view to generating a sustainable revenue contribution from mining and petroleum in future. Mining has historically been the mainstay of the South African economy. Mineral exports remain the principal contributor to foreign exchange earnings on the current account. South Africa is not yet a significant producer of crude oil or natural gas. Oil and gas exploration nevertheless shows promise. Taxation is far from top of the list in current challenges facing the development of extractive industries in South Africa. The national goal of economic and social transformation in favor of Historically Disadvantaged South Africans has major impact on the mining sector.
Author: Sudeshna Ghosh Banerjee
Publisher: World Bank Publications
ISBN: 1464802939
Category : Business & Economics
Languages : en
Pages : 173
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Book Description
The mining industry could play a key role in Africa s energy sector, since it requires power in large quantity and reliable quality to run its processes. The integration of mining with power system development, with appropriate risk mitigation mechanisms, could bring a win-win solution to utilities, mines, and people at large.
Author: Mines Bureau
Publisher:
ISBN: 9781411341739
Category : Business & Economics
Languages : en
Pages : 504
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Book Description
This edition of the U.S. Geological Survey (USGS) Minerals Yearbook discusses the performance of the worldwide minerals and materials industries during year 2013 and provides background information to assist in interpreting that performance. These annual reviews are designed to provide timely statistical data on mineral commodities in various countries. This volume covers data from Asia and the Pacific. Each report includes sections on government policies and programs, environmental issues, trade and production data, industry structure and ownership, commodity sector developments, infrastructure, and a summary outlook. Audience: Government employees and contractors, as well as businesses and employees, all working in mineral-related trades, especially with interests in statistics about mineral commodities overseas, will find this resource invaluable.
