Toto Same, Achille2012-03-192012-03-192009-03-01https://hdl.handle.net/10986/4048Oil and mineral revenues raise national savings and hence facilitate investment, capital accumulation, and sustained growth; thus, there are benefits of owning large natural resources. There can be a significant spillover effect from the oil sector to the non-oil sector particularly if governments are committed to bridge the infrastructure gap and promote the non-oil economy and foremost the non-oil tradable sector. Consequently, the capacity for coordinated policy formulation and execution is fundamental as well as sound windfall management mechanisms and institutions. This conceptual framework uses the case of Indonesia and the example of Norway to argue that the resource paradox is avoidable. Abundance should not be a curse, but rather a blessing for Sub-Saharan Africa's oil and mineral exporting countries. The country context and political economy matter a great deal but should not be the main driving forces behind windfall management, to avoid excessive rent-seeking activities, inefficiency, and wasteful spending. The EITI++ implementation can contribute to make a difference, mostly through capacity building, implementation assistance, and coordination support.CC BY 3.0 IGOABSORPTIVE CAPACITIESABSORPTIVE CAPACITYACCUMULATION OF DEBTADVERSE CONSEQUENCESAGRICULTUREARREARSBALANCE-OF-PAYMENTS CRISISBANK POLICYBENCHMARKBLACK MARKETBLACK MARKET PREMIUMBORROWINGBUDGET DEFICITCALCULATIONSCAPACITY BUILDINGCAPITAL ACCUMULATIONCAPITAL FORMATIONCAPITAL GOODSCAPITAL GOODS INDUSTRIESCAPITAL STOCKCAPITAL STOCKSCOMMERCIAL BANKSCOMPETITIVENESSCOMPREHENSIVE DEVELOPMENTCONSUMERCONSUMER GOODSCURRENCYCURRENT ACCOUNTCURRENT ACCOUNT DEFICITSDEBTDEBT BURDENDEBT BURDENSDEBT OVERHANGDEBT REDUCTIONDEPOSITSDEVELOPING COUNTRIESDEVELOPING COUNTRYDEVELOPMENT ASSISTANCEDEVELOPMENT BANKDEVELOPMENT ECONOMICSDEVELOPMENT POLICYDEVELOPMENT STRATEGYDISBURSEMENTSDOMESTIC ECONOMYDOMESTIC INFLATIONDOMESTIC SAVINGDURABLEDUTCH DISEASEECONOMIC ACTIVITYECONOMIC DEVELOPMENTECONOMIC EXPANSIONECONOMIC GROWTHECONOMIC HISTORIANSECONOMIC LIFEECONOMIC MANAGEMENTECONOMIC MODELECONOMIC ORDERECONOMIC OUTCOMESECONOMIC OUTLOOKECONOMIC PERFORMANCEECONOMIC POLICYECONOMIC RESEARCHECONOMIC STRUCTUREECONOMICS RESEARCHEMERGING ECONOMYEXCHANGE RATEEXCHANGE RATE APPRECIATIONEXCHANGE RATE VOLATILITYEXCHANGE RATESEXPENDITUREEXPENDITURESEXPORT EARNINGSEXPORT PERFORMANCEEXPORT REVENUESEXPORTEREXPORTERSEXPORTSEXTERNAL DEBTEXTERNALITIESFINANCIAL ASSETSFINANCIAL CRISISFISCAL BALANCEFISCAL DEFICITSFISCAL POLICYFLOATING INTEREST RATESFORECASTSFOREIGN DIRECT INVESTMENTFOREIGN EXCHANGEFOREIGN EXCHANGE RESERVESFOREIGN EXCHANGE RESOURCESFOREIGN INVESTMENTFOREIGN INVESTORSFOREIGN RESERVESFULL EMPLOYMENTGDPGDP PER CAPITAGLOBAL DEMANDGLOBAL ECONOMYGLOBALIZATIONGOVERNMENT EXPENDITUREGOVERNMENT FINANCESGOVERNMENT POLICYGOVERNMENT REVENUEGOVERNMENT REVENUESGOVERNMENT SPENDINGGROWTH MODELSGROWTH PERFORMANCEGROWTH POTENTIALGROWTH RATEGROWTH RATESHUMAN CAPITALIMPORTIMPORTSINCOMEINCREASING RETURNSINCREASING RETURNS TO SCALEINDUSTRIAL INVESTMENTSINDUSTRIALIZATIONINEFFICIENCYINFLATIONINSTRUMENTINTERNATIONAL BANKINTERNATIONAL ECONOMICSINTERNATIONAL MARKETINTERNATIONAL TRADEINVESTINGINVESTMENT DECISIONINVESTMENT DECISIONSINVESTMENT PROGRAMINVESTMENT RATEINVESTMENT SPENDINGLACK OF EXPERIENCELIQUIDITYLIVING STANDARDSMACROECONOMIC IMPEDIMENTMACROECONOMIC POLICIESMACROECONOMIC REFORMSMARGINAL PRODUCTIVITYMARKET TRANSACTIONSMONETARY FUNDMONETARY POLICYNATIONAL SAVINGNATIONAL SAVINGSNATURAL RESOURCENATURAL RESOURCESNEWLY INDUSTRIALIZED COUNTRIESOIL BOOMOIL BOOMSOIL ECONOMYOIL EXPORTEROIL EXPORTERSOIL EXPORTING COUNTRIESOIL EXPORTING COUNTRYOIL EXPORTSOIL PRICEOIL PRICESOIL PRODUCING COUNTRIESOIL RESOURCESOIL REVENUEOIL REVENUESOIL-EXPORTING COUNTRIESOPEN ECONOMYPENSIONPENSION FUNDPER CAPITA INCOMEPOLITICAL ECONOMYPORTFOLIOPORTFOLIO INVESTMENTPOSITIVE EFFECTSPOSITIVE EXTERNALITIESPOVERTY REDUCTIONPRICE MOVEMENTSPRIMARY COMMODITIESPRIVATE CAPITALPRIVATE INVESTMENTPROBABILITYPRODUCTION INPUTSPROPERTY RIGHTSPUBLIC DEBTPUBLIC EXPENDITUREPUBLIC FINANCEPUBLIC INVESTMENTPUBLIC INVESTMENTSRATE OF GROWTHREAL EFFECTIVE EXCHANGE RATEREAL EXCHANGE RATEREAL EXCHANGE RATE APPRECIATIONREAL GDPREAL INVESTMENTRELATIVE PRICERELATIVE PRICESRENTSRESERVESRESOURCE ALLOCATIONRESOURCE MOVEMENT EFFECTRETURNRULE OF LAWSAVINGS RATESECTOR REFORMSSECURITIESSLACKSLOW GROWTHSUPPLY SIDETAXTAX REGIMESTAX SYSTEMTAXATIONTECHNICAL ASSISTANCETOTAL EXPORTSTRANSMISSION MECHANISMSTRANSPARENCYUNEMPLOYMENTVALUE ADDEDWAGESWEALTHWORLD DEVELOPMENT INDICATORWORLD DEVELOPMENT INDICATORSWORLD ECONOMIESWorld Bank10.1596/1813-9450-4852