World Bank: Management of Petroleum Revenues
Article from: OGEL 2 (2003), in Roundup of Articles
Summary
Actually or potentially, rents generated by oil and gas production represent a substantial share of GDP, budget and foreign exchange revenues in many petroleum producing developing countries. Their availability presents both an opportunity and a challenge. Unfortunately, evidence to date suggests that as often as not petroleum rents become a curse rather than a blessing, with countries enjoying those rents falling behind non-petroleum states in achieving development targets and experiencing more than their share of political instability and violent conflict. There is an ...