Extractives for Development

Abstract

Abstract Countries face both challenges and opportunities in using their extractive industries to achieve more inclusive development—particularly in the developing world. Extractive industries have shaped economies, societies, and politics of nations—for good and bad. Today’s wealthiest nations owe a part of their high living standards to the extractive industries. Yet while a large national income can result from resource wealth, it can also be associated with acute social inequality and deep poverty—the polar opposite of inclusive development. Many developing countries struggle to diversify their economies, and create redistributive fiscal systems, in ways that reduce poverty, inequality, and social division. The very worst cases see violent conflict and civil war. The expression ‘resource curse’ has in turn become common coin. This chapter lays out the framework of the book for the reader, and describes the motive and contribution of the individual chapters to the narrative thread woven throughout.

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