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Can “Resource Financed Infrastructure” Fix the Natural Resource Curse?

Håvard Halland's picture
Resource Financed Infrastructure
Source: Getty Images/Sam Edwards.
 

In Africa, estimates indicate that an annual investment of $93 billion is required to address the continent’s basic infrastructure needs – more than double the current level of investment.

The lack of productive investment of resource revenues, with spending of these revenues often heavily tilted towards consumption, is a critical component of the so-called resource curse, the observation that countries rich in natural resources frequently have slow long-term growth. Following oil or mineral discoveries, as the expectation of increased wealth spreads, pressures to spend typically become hard for politicians to resist, public sector salaries go through the roof, wasteful spending increases, corruption may flourish, hidden foreign bank accounts may be established, and the number of unproductive “white elephant” projects grows.

How can resource-rich countries ensure that a large share of oil, gas, and mining revenues are used for productive investment rather than excessive or wasteful consumption?

The Internet: a powerful resource if you know how to use it

Mamata Pokharel's picture

We have all heard the buzz: How the Internet has changed the world; how social networks are allowing young people to voice their aspirations and organize to bring real changes on the ground; and how the developing world is awash in mobile phones and hyper-connected youngsters.

Weekly Wire: the Global Forum

Kalliope Kokolis's picture

These are some of the views and reports relevant to our readers that caught our attention this week.

NDI Tech
Practice Makes Perfect, or How We Fail Early and Succeed Late

“Ahead of the intense effort and coordination involved with PVT-type data collection on an Election Day, organizations choose to simulate the reporting and data management processes which will be required in a tense political environment.

In massive data collection exercises, “stress” or “load” tests can assess the training and commitment of the observers, the effectiveness of the communications system and the training (video!) of staff in the center.”