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Nicholas Shaxson: Give the people their resource wealth
June 8th, 2009
Task Force member and TJN fellow, Nicholas Shaxson, co-authored a piece which appeared in the Financial Times last week. Amazingly, I didn't pick it up until just now. Anyway, from the FT:

Countries too dependent on extractive industries face three problems. Large foreign exchange inflows lead to the “Dutch disease”: local costs go up, so imports undercut domestic manufacturing and agriculture. Gyrating commodity prices play havoc with budgets. And mineral rents infest politics with corruption and conflict. As everyone fights over the mineral cake, good governance falls apart.

The solution is...

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