- Charlotte Lundgren, Alun Thomas, and Robert York
- Published Date:
- August 2013
Boom, Bust, or Prosperity? Managing Sub-Saharan Africa’s Natural Resource Wealth
Charlotte J. Lundgren Alun H. Thomas, and Robert C. York
© 2013 International Monetary Fund
Joint Bank-Fund Library
Lundgren, Charlotte J.
Boom, bust, or prosperity?: managing Sub-Saharan Africa’s natural resource wealth / Charlotte Lundgren, Alun Thomas, and Robert York.—Washington, D.C.: International Monetary Fund, 2013.
p. : ill ; cm.
Includes bibliographical references.
1. Economic development – Africa, Sub-Saharan. 2. Natural resources – Africa, Sub-Saharan. 3. Natural resources – Economic aspects – Africa, Sub-Saharan. I. Thomas, Alun H. II. York, Robert.
ISBN: 978-1-48436-932-6 (paper)
ISBN: 978-1-48437-958-5 (ePub)
ISBN: 978-1-48433-743-1 (Mobipocket)
ISBN: 978-1-48433-038-8 (Web PDF)
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The authors gratefully acknowledge the collaboration on the manuscript from a number of colleagues within and outside the IMF, the insights provided by experts during the conference on the “Management of Natural Resources in Sub-Saharan Africa” held in Kinshasa, March 21–22, 2012, and discussions by the IMF’s Executive Board centered on recent staff papers on “Macroeconomic Policy Frameworks for Resource-Rich Developing Countries” and “Fiscal Regimes for Extractive Industries—Design and Implementation.” The analysis draws heavily on these staff papers, which set out a modern and forward-looking framework for managing natural resource wealth.
We owe special thanks to those IMF colleagues who contributed to various parts of the analysis, in particular to Jon Shields for drafting Chapter 7 and to Anton Op de Beke (Boxes 6.3 and 7.1); Rodrigo García-Verdu and Ara Stepanyan (Box 3.2); Geneviève Verdier (Box 4.4); Victor Lledo, Esther Palacio, and Yi Xiong (Box 6.1); Kareem Ismail (Box 6.2); Neil Saker (Box 3.4); Daniel Rodriguez (Box 4.2); and to Roger Nord for helping to guide our work and shape its message. Box 5.3 in Chapter 5 also benefited from the valuable contribution of Anand Rajaram from the World Bank.
corporate income taxDRC
Democratic Republic of the CongoECA
Excess Crude Account (Nigeria)EITI
Extractive Industries Transparency InitiativeESSF
Economic and Social Stabilization FundFARI
Fiscal Analysis of Resource IndustriesGDP
gross domestic productGNI
gross national incomeHDI
Human Development IndexIWG
International Working Group of Sovereign Wealth FundsPIM
public investment managementPRF
Pension Reserve FundSOE
sovereign wealth fund