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Home > Resources > Ethics & International Affairs Journal > Volume 18.1 (Winter 2004) > Articles |
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Sharing the Riches of the Earth: Democratizing Natural Resource-Led Development [Abstract]
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February 3, 2004
Many developing countries are attempting to use their natural resource
endowments -- notably oil, natural gas, and minerals such as gold -- as the
basis for economic growth and development. Recent history, however, indicates
that countries that depend heavily on resource extraction do more poorly on a
variety of economic indicators, including growth rates, education levels, and
income inequality. This is due in significant part to the way in which wealth
derived from resource extraction is concentrated in the hands of a small elite,
which often misuses these revenues through corruption, poorly planned
investments, and other means. This contrasts with other kinds of economic
activity, such as agriculture, in which benefits are distributed more widely.
Thus, a key to increasing the development and poverty reduction benefit value of
resource extraction is breaking elite control of these revenues and increasing
public involvement in decision-making related to their use. Doing so would
enhance the likelihood that these funds would be employed with greater concern
for the needs of the populace. The experiences of Ecuador, Peru, and Bolivia
highlight the importance of increasing distributive justice and public
participation in resource revenue distribution and provide insights into how
this could be implemented in resource-dependent economies.
To read or purchase the full text of this article, click here.
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The Carnegie Council's flagship publication, Ethics & International Affairs is an interdisciplinary resource for scholars, students, and policy analysts concerned with the moral dimensions of global issues. The journal covers global justice, civil society, democratization, international law, intervention, sanctions, and related topics.
SUBSCRIPTIONS
To subscribe to Ethics & International Affairs, or to purchase individual issues and articles, go to Wiley-Blackwell.
RESPONSES
The Editors welcome responses to Features and Essays published in Ethics & International
Affairs. To be considered for publication, responses should be no longer than one
thousand words, including endnotes (which
should be kept to a minimum). Responses
are not peer-reviewed, and are published at
the Editors' discretion. All responses are
subject to editing for length and style. In the
event of any questions or substantive editing,
the response will be returned to the author
for final approval prior to publication.
Responses are published online, alongside
the article they address.
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