Opinions

The views expressed here are solely those of the author in their private capacity and do not represent the views of OilNOW.

Opinions

Macroeconomic effects of oil price volatility and the implications of energy subsidy reforms

Bobby Gossai, Jr. -
Sharp increases in the price of oil and other energy products are referred to as classical examples of negative supply shocks (Hamilton 2005). Increases in the price of oil lead to increases in the cost of production, which in...
Opinions

Management of resource income spending for Guyana

Bobby Gossai, Jr. -
Countries making resource discoveries often find themselves facing a number of important and difficult decisions. One such decision regards whether to set up a sovereign wealth fund – or more generally, determining a time profile for the usage of...
Opinions

Enabling resource-rich Guyana to reduce poverty and inequality

OilNOW -
What should a government in a resource-rich state do about the gap between rich and poor populations (vertical inequality), and the gap between resource-rich and resource-poor regions (horizontal inequality)? Indeed, oil and gas exporters tend to have more varied...
Opinions

The push for a fast development agenda for the emerging Guyanese economy

OilNOW -
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...
Opinions

Infrastructural development linkages from the newly discovered resource

Bobby Gossai, Jr. -
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...
Opinions

Considerations for delivering a successful extractives-Led growth agenda for Guyana

Bobby Gossai, Jr. -
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,...
Opinions

Guyana hopes oil will bring wealth – not corruption and crisis

OilNOW -
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...
Opinions

Allowing resource revenues to be good for the emerging Guyanese economy

Bobby Gossai, Jr. -
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...
Opinions

Challenges to an extractives-led growth agenda for Guyana

OilNOW -
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...
Opinions

Creating a more resilient Guyanese economy to overcome the challenges of the Resource Curse

Bobby Gossai, Jr. -
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...
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