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Working Paper 84 - Ways of Using the African Oil Boom for Sustainable Development

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Abstract

Sub-Saharan-Africa is considered the fastest-growing oil-producing region worldwide.Production has risen by 36 percent in the past ten years (as against 16 percentworldwide). Within 2005 alone, the revenue of the eight largest oil countries of sub-Saharan Africa will be about US$35 billion. The oil revenues can give rise to a rentseekingmentality. Political decision-makers may focus on distributing the income on thebasis of private interests and not so much on putting it to use for productive developmentpurposes. This paper reviews ways the African oil boom can be used for sustainabledevelopment of the continent.

Suggested Citation

  • Geerd Wurthmann, 2006. "Working Paper 84 - Ways of Using the African Oil Boom for Sustainable Development," Working Paper Series 219, African Development Bank.
    • Handle: RePEc:adb:adbwps:219
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    1. Sachs, J-D & Warner, A-M, 1995. "Natural Resource Abundance and Economic Growth," Papers 517a, Harvard - Institute for International Development.
    2. Paul Collier & Anke Hoeffler, 2004. "Greed and grievance in civil war," Oxford Economic Papers, Oxford University Press, vol. 56(4), pages 563-595, October.
    3. Halvor Mehlum & Karl Moene & Ragnar Torvik, 2006. "Cursed by Resources or Institutions?," The World Economy, Wiley Blackwell, vol. 29(8), pages 1117-1131, August.
    4. van Wijnbergen, Sweder J G, 1984. "The 'Dutch Disease': A Disease after All?," Economic Journal, Royal Economic Society, vol. 94(373), pages 41-55, March.
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    1. repec:ebl:ecbull:v:3:y:2007:i:42:p:1-12 is not listed on IDEAS
    2. Oluyomi A. Osobajo & Olushola E. Ajide & Afolabi Otitoju, 2020. "Fostering Sustainable Development: A Corporate Social Responsibility Approach," Journal of Management and Sustainability, Canadian Center of Science and Education, vol. 9(2), pages 1-62, March.
    3. Pacific K. T. Yapatake & Gabriella M-A. M Ngaba, 2019. "Capital Flight and Extent of Corruption control in the Least Corrupt African Countries: An Empirical assessment," CEREDEC Working Papers 19/002, Centre de Recherche pour le Développement Economique (CEREDEC).
    4. Omgba Luc Désiré, 2007. "Oil rents and the tenure of the leaders in Africa," Economics Bulletin, AccessEcon, vol. 3(42), pages 1-12.
    5. Madu, Christian N. & Kuei, Chu-hua, 2019. "Modeling landscape sustainability in the oil producing Niger delta area of Nigeria," Energy Policy, Elsevier, vol. 133(C).

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