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a vital development topic,
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This review is from: The Plundered Planet: How to Reconcile Prosperity With Nature (Kindle Edition)
As Paul Collier points out, on the basis of thorough economic analysis, natural resources such as oil, and mineral deposits have the potential to transform the economies of poor countries, provided they are well managed. Poor governance and management mean that most often they are not used for the benefit of future generations, though there are a few positive examples. Professor Collier makes suggestions for how countries can be helped to make better decisions on how the resources are exploited, how greater benefits can be obtained by better deals with exploration companies and what can be done to improve transparency. As he points out, the potential benefits to many countries in Africa far outweigh those from overseas development assistance (ODA), though ODA could provide assistance in improving the governance and management processes.