TY - CHAP
T1 - Natural Resources Revenue Management Strategies in African Countries
AU - Damoah, Obi Berko O.
N1 - Publisher Copyright:
© The Author(s), under exclusive license to Springer Nature Switzerland AG 2024.
PY - 2024
Y1 - 2024
N2 - To date, the debate regarding the natural resource curse that is associated with developing countries that are blessed with natural resource abundance is inconclusive. This chapter addresses natural resource revenue management strategies in African countries. The background of the topic is presented by way of introduction. This is followed by a discussion on natural resource extraction and revenue management strategies. The Chapter argues that, concerning natural resource revenue management strategies, the permanent income hypotheses and bird-in-hand model remain dominant in the field. Following this, the specific models that have been crafted by governments in African countries to manage natural resource revenue are presented. From the literature, samples of these local strategies include, but are not limited to, the Petroleum Revenue Management Act (PRMA) (Ghana), the Petroleum Revenue Management (Amendment) Act, 2015 (Act 893) (PRMAA) (Ghana), the Nigerian Sovereign Investment Authority (NSIA), the Nigeria Infrastructure Fund (NIF), and the Fundo Soberano de Angola (FSDEA) (Angola). Consequently, the chapter ends with recommendations to improve the existing natural resource revenue management strategies in Africa.
AB - To date, the debate regarding the natural resource curse that is associated with developing countries that are blessed with natural resource abundance is inconclusive. This chapter addresses natural resource revenue management strategies in African countries. The background of the topic is presented by way of introduction. This is followed by a discussion on natural resource extraction and revenue management strategies. The Chapter argues that, concerning natural resource revenue management strategies, the permanent income hypotheses and bird-in-hand model remain dominant in the field. Following this, the specific models that have been crafted by governments in African countries to manage natural resource revenue are presented. From the literature, samples of these local strategies include, but are not limited to, the Petroleum Revenue Management Act (PRMA) (Ghana), the Petroleum Revenue Management (Amendment) Act, 2015 (Act 893) (PRMAA) (Ghana), the Nigerian Sovereign Investment Authority (NSIA), the Nigeria Infrastructure Fund (NIF), and the Fundo Soberano de Angola (FSDEA) (Angola). Consequently, the chapter ends with recommendations to improve the existing natural resource revenue management strategies in Africa.
KW - Africa
KW - Developing country
KW - Natural resource revenue management strategies
UR - http://www.scopus.com/inward/record.url?scp=85195906199&partnerID=8YFLogxK
U2 - 10.1007/978-3-031-58124-3_4
DO - 10.1007/978-3-031-58124-3_4
M3 - Chapter
AN - SCOPUS:85195906199
T3 - Advances in African Economic, Social and Political Development
SP - 71
EP - 89
BT - Advances in African Economic, Social and Political Development
PB - Springer Nature
ER -