Investing Mineral Wealth in Development Assets : Ghana, Liberia and Sierra Leone

Promoting sustainable development calls for investing rents from exhaustible mineral resources into human, physical and social capital, so as to protect the wealth of countries and the economic opportunities of their citizens. This has been difficult in well-governed Ghana in the last decade; and might prove to be extremely challenging in post-conflict countries such as Liberia and Sierra Leone, where preference for the present is high and institutions to collect rents and convert them into effective investments weak. The paper reviews the countries' degrees of preparedness to confront the various challenges associated with ongoing mineral booms, and tries to identify country-specific policy areas of particular relevance and potential impact for sustainable development.

Bibliographic Details

Main Authors:	Boakye, Daniel, Dessus, Sébastien, Foday, Yusuf, Oppong, Felix
Format:	Policy Research Working Paper biblioteca
Language:	English
Published:	2012-06
Subjects:	ACCOUNTING, AGRICULTURE, AMORTIZATION, ARREARS, AUCTION, AUCTIONS, BALANCE OF PAYMENTS, BANK FINANCING, BENCHMARK, BENCHMARKS, BID, BORROWING STRATEGY, BROAD MONEY, BUDGET CONSTRAINT, BUDGETING, BUSINESS CYCLES, CAPACITY BUILDING, CAPITAL GAIN, CAPITAL GAINS, CAPITAL INFLOWS, CASH FLOWS, CENTRAL BANK, CHECKS, COLLATERAL, COLLECTIVE ACTIONS, COLLUSION, COMMODITY PRICE, COMMODITY PRICES, COMPETITIVENESS, COMPLIANCE GAP, CONFLICT OF INTEREST, CONTINGENT LIABILITIES, CORPORATE INCOME TAX, CORPORATE PROFITS, CREDIBILITY, CURRENCY COMPOSITION, CURRENT ACCOUNT DEFICIT, DAMAGES, DEBT, DEBT INSTRUMENTS, DEBT MANAGEMENT, DEBT RELIEF, DEBT SERVICE, DEFICIT FINANCING, DEPOSITS, DEVELOPMENT ASSISTANCE, DEVELOPMENT BANK, DEVELOPMENT ECONOMICS, DEVELOPMENT POLICIES, DEVELOPMENT POLICY, DEVELOPMENT STRATEGIES, DEVELOPMENT STRATEGY, DISBURSEMENTS, DISCOUNT RATE, DISCOUNT RATES, DISPOSABLE INCOME, DIVIDENDS, DOMESTIC BORROWING, ECONOMIC DEVELOPMENT, ECONOMIC GROWTH, ECONOMICS LITERATURE, ECONOMIES OF SCALE, ELECTRICITY, EQUIPMENT, EQUIPMENTS, EVASION, EXPENDITURE, EXPENDITURES, EXPORTER, EXPORTS, EXTERNAL BORROWING, EXTERNAL DEBT, FINANCIAL ACCOUNTING, FINANCIAL INSTRUMENTS, FINANCIAL MANAGEMENT, FINANCIAL MANAGEMENT CAPACITY, FISCAL DEFICIT, FISCAL POLICY, FISCAL RESPONSIBILITY, FISCAL SURPLUS, FIXED CAPITAL, FLEXIBLE EXCHANGE RATE, FORECASTS, FOREIGN CAPITAL, FOREIGN CURRENCY, FOREIGN DIRECT INVESTMENTS, FOREIGN EXCHANGE, FOREIGN INVESTORS, FRAUD, GDP, GLOBAL MARKET, GOVERNMENT BUDGETING, GOVERNMENT DEBT, GOVERNMENT EXPENDITURE, GOVERNMENT EXPENDITURES, GOVERNMENT GUARANTEES, GOVERNMENT REVENUE, GOVERNMENT REVENUES, GROSS NATIONAL SAVINGS, GROWTH RATE, GROWTH WITHOUT DEVELOPMENT, HOLDING, HOLDINGS, HOST GOVERNMENT, HUMAN CAPITAL, HUMAN DEVELOPMENT, HUMAN RESOURCE, INCOME TAX, INFLATION, INFORMATION SYSTEM, INFRASTRUCTURE DEVELOPMENT, INSTITUTIONAL CAPACITY, INSTRUMENT, INSURANCE, INTERGOVERNMENTAL TRANSFER, INTERNAL AUDIT, INTERNAL AUDITS, INTERNATIONAL BANK, INTERNATIONAL STANDARD, INVESTING, INVESTMENT CLIMATE, INVESTMENT DECISIONS, INVESTMENT FINANCE, INVESTMENT PROJECTS, INVESTMENT SPENDING, LEASE AGREEMENTS, LEGAL FRAMEWORK, LEGAL OBLIGATIONS, LENDERS, LICENSES, LIQUIDITY, LIQUIDITY MANAGEMENT, LIVING STANDARDS, LOCAL ECONOMY, M2, MACROECONOMIC ENVIRONMENT, MACROECONOMIC INSTABILITY, MACROECONOMIC MANAGEMENT, MACROECONOMIC POLICY, MACROECONOMIC RISKS, MACROECONOMIC STABILITY, MACROECONOMIC UNCERTAINTY, MARGINAL VALUE, MIDDLE INCOME COUNTRY, MONETARY FUND, MONETARY POLICIES, MONETARY POLICY, MONEY SUPPLY, MULTIPLIER EFFECTS, NATIONAL INCOME, NATIONAL SAVINGS, NATURAL CAPITAL, OIL PRICE, OIL PRICES, OIL RESERVES, OPPORTUNITY COST, PERFECT INFORMATION, PERSONAL INCOME, POLITICAL ECONOMY, POLITICAL RISKS, PRICE FLUCTUATIONS, PRICE VOLATILITY, PRIVATE INVESTMENT, PRIVATE INVESTORS, PRIVATE SECTOR, PRIVATE SECTOR PARTICIPATION, PRODUCTION COSTS, PRODUCTIVE INVESTMENTS, PROVISIONS, PUBLIC, PUBLIC BORROWING, PUBLIC DEBT, PUBLIC DEBT MANAGEMENT, PUBLIC EXPENDITURE, PUBLIC EXPENDITURE PRIORITIES, PUBLIC GOODS, PUBLIC INVESTMENT, PUBLIC INVESTMENT PROGRAMS, PUBLIC INVESTMENTS, PUBLIC PRIVATE PARTNERSHIPS, PUBLIC RESOURCES, PUBLIC REVENUES, PUBLIC SAVINGS, PUBLIC SECTOR, PUBLIC SPENDING, PURCHASING POWER, RATES OF RETURNS, REAL EXCHANGE RATE, REAL INTEREST, REAL INTEREST RATE, REAL INTEREST RATES, REGULATORY AUTHORITY, REGULATORY FRAMEWORK, REGULATORY FRAMEWORKS, REGULATORY REGIMES, RENEGOTIATION, REPAYMENTS, RESERVE, RESERVES, RESOURCE ALLOCATION, RETURN, REVENUE COLLECTION, REVENUE MANAGEMENT, ROADS, SAVINGS RATE, SOCIAL CAPITAL, TAX, TAX CODE, TAX COLLECTION, TAX EXEMPTIONS, TAX POLICY, TAX REGIME, TAX REVENUE, TECHNICAL ASSISTANCE, TOTAL OUTPUT, TRANSPARENCY, TREASURY, TREASURY BILL, UTILITIES, VALUATION, VOTERS, WAGES, WEALTH, WITHHOLDING TAX,
Online Access:	http://documents.worldbank.org/curated/en/2012/06/16377791/investing-mineral-wealth-development-assets-ghana-liberia-sierra-leone http://hdl.handle.net/10986/9320
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