Syndicate content

extractive governments;

How to manage the extractives sector? There’s a book for that!

Håvard Halland's picture
Photo Credit: Cor Laffra

Let’s assume you are a Finance Minister or ministry official of a country that has newly discovered oil or minerals.

What actions lay ahead? Or, if oil and mineral production is ongoing, how can you strengthen the public management of the extractive sector, which is a mainstay for national economies around the world?  
Planning for the development of an unfamiliar and complex sector can be daunting. How should sector policy objectives be determined?

Which economic, accounting and taxation principles should be considered? What kinds of laws and regulations would a government need to adopt? What roles do various ministries and government agencies play in administering these laws? How do technical, environmental and social considerations fit into the scheme of things? What about the investment of resource revenues, or the potential for new industry linkages?