Escaping the Resource Curse

ISBN-10: 0231141963
ISBN-13: 9780231141963
Edition: 2007
List price: $29.95 Buy it from $14.63
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Description: Many countries that are rich with natural resources fall victim to poverty, corruption, civil war, or deep economic crises. This volume examines the paradox of the resource curse by addressing its root causes-a buyer's unfair advantage over a  More...

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Book details

List price: $29.95
Copyright year: 2007
Publisher: Columbia University Press
Publication date: 5/22/2007
Binding: Hardcover
Pages: 432
Size: 6.25" wide x 9.25" long x 1.50" tall
Weight: 1.562
Language: English

Many countries that are rich with natural resources fall victim to poverty, corruption, civil war, or deep economic crises. This volume examines the paradox of the resource curse by addressing its root causes-a buyer's unfair advantage over a supplier; governments that unwisely live off their capital; insufficient investments in education; theft by political leaders; grievances in producing regions-and what can be done to resolve these issues. Contributors lay out a broad framework suggesting how willing governments might obtain a contractual advantage over oil corporations, achieve optimal expenditure and investment practices, distribute resource wealth evenly, and build healthier relationships between state and society.

Macartan Humphreys is assistant professor of political science at Columbia University and publishes on the politics of economic policy making, bargaining theory, and rebel behavior in civil war.Jeffrey D. Sachs is the Director of The Earth Institute, Quetelet Professor of Sustainable Development, and Professor of Health Policy and Management at Columbia University. He is also Special Advisor to United Nations Secretary-General Ban Ki-moon and President and Co-Founder of Millennium Promise Alliance, a nonprofit organization aimed at ending extreme global poverty.He is author of hundreds of scholarly articles and many books, including The End of Poverty.Joseph E. Stiglitz is a University Professor at Columbia University and former chief economist and senior vice-president of the World Bank. Among his books is Globalization and Its Discontents, which has been translated into twenty-eight languages. In 2001 he was awarded the Nobel Prize in economics.

Joseph Stiglitz is professor of economics at Columbia University.

Jeffrey David Sachs was born November 5, 1954, in Detroit, Michigan. He attended Harvard College, where he received his B.A. summa cum laude in 1976. He went on to receive his M.A. and Ph.D. in economics from Harvard, and was invited to join the Harvard Society of Fellows while still a Harvard graduate student. In 1980, he joined the Harvard faculty as an Assistant Professor and was promoted to Associate Professor in 1982. A year later, at the age of 29, Sachs became a Full Professor of economics with tenure at Harvard. During the next 19 years at Harvard, he became the Galen L. Stone Professor of International Trade, the Director of the Harvard Institute for International Development at the Kennedy School of Government (1995-1999), and the Director of the Center for International Development (1999-2002). Sachs is known for his work as an economic adviser to governments in Latin America, Eastern Europe, and the former Soviet Union. A trained macroeconomist, he advised a number of national governments in the transition from communism to market economies. Jeffrey Sachs has authored several publications. Some of his titles include Common Wealth: Economics for a Crowded Planet and The Price of Civilization: Reawakening American Virtue and Prosperity, which earned him a spot on Publisher's Weekly Best Seller List for 2011.

George Soros was born in Budapest, Hungary in 1930. He moved to London to attend the London School of Economics. After moving to the United States, Soros began a successful international investment fund. He opened his first foundation, The Open Society Fund in 1979. He also created The Eastern European Foundation is Hungary and the Soros Foundation - Soviet Union in 1987. With his great success, Soros funded a network of foundations in more than thirty countries. Soros has also published many book including The Alchemy of Finance, Opening the Soviet Union, Soros on Soros: Staying Ahead of the Curve, and The Crisis of Global Capitalism. He has also received honorary degrees from the New School of Social Research, Oxford University, the Budapest University of Economics, and Yale University.

Foreword
Acknowledgments
Introduction: What Is the Problem with Natural Resource Wealth?
Dealing with Oil Corporations
What Is the Role of the State?
How to Evaluate the Fiscal Terms of Oil Contracts
How to Negotiate an Oil Agreement
How Best to Auction Oil Rights
Managing the Macroeconomy
Are Oil Producers Rich?
How to Handle the Macroeconomics of Oil Wealth
The Political Economy of Natural Resource Funds
Handling the Politics
How Mineral-Rich States Can Reduce Inequality
Ensuring Fairness: The Case for a Transparent Fiscal Social Contract
Critical Issues for a Revenue Management Law
Future Directions for the Management of Natural Resources
Appendices
Abridged Sao Tome and Principe Oil Law
Abridged Timor-Leste Oil Law
Glossary of Oil Terms
Web Site References
Contributors
Index

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