THE EXTRACTIVE INDUSTRIES SECTOR
HÅVARD HALLAND, MARTIN LOKANC, and ARVIND NAIR, with SRIDAR PADMANABHAN KANNAN
The
extractive industries (EI) sector occupies an outsize space in the economies of
many developing countries.
Economists,
public finance professionals, and policy makers working in such countries are frequently
confronted with issues that require an in-depth understanding of the sector.
The
objective of this volume is to provide a concise overview of EI-related topics
these professionals are likely to encounter.
The
volume provides an overview of issues central to EI economics; discusses key
components of the sector’s governance, policy, and institutional frameworks;
and identifies the public sector’s EI-related financing obligations.
Its
discussion of EI economics covers the valuation of subsoil assets, the economic
interpretation of ore, and the structure of energy and mineral markets.
The
volume maps the responsibilities of relevant government entities and outlines
the characteristics of the EI sector’s legal and regulatory frameworks.
Specific
key functions of the sector are briefly discussed, as are the financial
structures that underpin environmental and social safeguards; investment of
public revenues generated from oil, gas, or minerals; as well as
extractive-based economic diversification.
The authors hope that decision makers in ministries of finance, international organizations, and other relevant entities will find the study useful to their understanding and analysis of the EI sector.
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