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Are we measuring natural resource wealth correctly?: A reconceptualization of natural resource value in the era of climate change

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  • Amir Lebdioui

Abstract

Underlying the management of revenues from natural resource extraction is a set of assumptions about how abundant and how valuable these resources are. Nevertheless, existing approaches to measuring the value of extractive resources are seriously flawed. This paper proposes two avenues for improving them. It explains how a multidimensional approach to measuring resource wealth can be used to identify the policy challenges that a country might face as it sets out its strategy for managing extractive revenues.

Suggested Citation

  • Amir Lebdioui, 2021. "Are we measuring natural resource wealth correctly?: A reconceptualization of natural resource value in the era of climate change," WIDER Working Paper Series wp-2021-18, World Institute for Development Economic Research (UNU-WIDER).
    • Handle: RePEc:unu:wpaper:wp-2021-18
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    File URL: https://www.wider.unu.edu/sites/default/files/Publications/Working-paper/PDF/wp2021-18-measuring-natural-resource-wealth-era-climate-change.pdf
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    References listed on IDEAS

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    7. van der Ploeg, Frederick & Arezki, Rabah & Toscani, Frederik, 2016. "Shifting Frontiers in Global Resource Wealth: The Role of Policies and Institutions," CEPR Discussion Papers 11553, C.E.P.R. Discussion Papers.
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    Cited by:

    1. Annalena Oppel & Kyle McNabb & Daniel Chachu, 2022. "The dynamics of domestic revenue mobilization across four decades," WIDER Working Paper Series wp-2022-1, World Institute for Development Economic Research (UNU-WIDER).

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    More about this item

    Keywords

    Natural resources; Valuation; environmental impact; Extractives; Climate change; Environmental impact assessments;
    All these keywords.

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