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Extractive industries: recognizing and managing the risks in resource-dependent economies

Author

Listed:
  • Tony Addison
  • Alan R. Roe

Abstract

This paper analyses the risks facing resource-dependent countries. These include: (i) economic mismanagement (the 'resource curse'); (ii) political mismanagement; (iii) environmental damage (climate change and the destruction of natural capital). It distinguishes 'risk' (which can be addressed probabilistically) from 'uncertainty' (infrequent unpredictable events). Mozambique, with its large natural gas resource, provides examples of all the component risks and uncertainties.

Suggested Citation

  • Tony Addison & Alan R. Roe, 2024. "Extractive industries: recognizing and managing the risks in resource-dependent economies," WIDER Working Paper Series wp-2024-27, World Institute for Development Economic Research (UNU-WIDER).
    • Handle: RePEc:unu:wpaper:wp-2024-27
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    File URL: https://www.wider.unu.edu/sites/default/files/Publications/Working-paper/PDF/wp2024-27-extractive-industries-risks-resource-dependent-economies.pdf
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