Opinions

To understand why, in the case of most countries, stronger linkages with the rest of the economy have not emerged over time, it is necessary to look at how and at what speed the sector developed as well as...

Asking what constitutes successful development in the cases of countries with extractive sectors is a useful way of circumventing the biases stemming from the resource-curse theory and the extractives-led growth agenda. Clearly, diversification of the economy away from the resource...

In terms of practical policy and economic advice, the extractives-led growth agenda has tended to reinforce domestic, government and investor pressures to ‘develop fast’. At the same time, it will reinforce the emergence of several initiatives to enhance transparency,...

Speaking in an article published in The Conversation, visiting Assistant Professor of Politics and International Studies at US-based Centre College, Jennapher Lunde Seefeldt, says when Guyana begins producing oil by 2020, its Gross Domestic Product is expected to increase...

There is economic logic in the argument that resource revenues can improve a country’s growth prospects, potentially unleashing a trend towards higher levels of income, savings and investment. Resource-curse studies have tended to focus on negative outcomes and to...

In the exploitation of many depletable resources, two separate investment activities can be distinguished that must take place if production is to continue in an orderly fashion: exploration and development. It is well accepted in economic theory that land...

The theory of a ‘curse of natural resources’ can be traced back to the 1970s. The subsequent two decades saw the emergence of a significant body of research proposing a link between resource production, economic underperformance and various socio-political...

As an emerging resource-driven economy and one with a particularly low average income, Guyana must use its resources sectors as a platform for broader economic development, which could transform its growth prospects. However, as with other similar countries, Guyana...

Whether the natural resources of a country will be a blessing or a curse, depends on various factors. The recent oil discoveries of Guyana can induce an appreciation of the real exchange rate, deindustrialisation and bad growth prospects, and...

Government preferences should take into account wider factors than those considered by private investors. This is because governments are concerned with the linkages between petroleum production and the rest of the economy. Also, governments are or should be responsible...