Development challenges of resource-rich countries: the case of oil exporters

Abstract

This paper discusses some of the challenges that confront oil-rich developing countries in their development quest. It stresses that one of the surest ways governments in oil-rich developing countries have at their disposal to avoid the so-called curse of oil is through the insulation of fiscal policy from the volatility associated with the price of oil, as well as promotion of improvements in governance and institutions.

NESG Economic Indicators Vol. 13 (4) 2007 pp. 9-24