The commodity downturn represents an opportunity to invest in good practices that will help countries break from a legacy of inadequate governance and legal structures, weak enforcement of tax legislation and imprudent revenue management.
Since 2008, NRGI has conducted research and implemented interventions to better understand and respond to local impacts of the exploitation of oil, gas and minerals. This paper summarizes what NRGI has learned and should serve as a high-level summary for national and local policymakers.
As prices of various commodities fall, many resource-rich countries are facing increasingly difficult choices. This series of articles, by NRGI experts and the organization’s partners, explores specific challenges in different contexts, as well as the solutions open to countries facing lowered investment, reduced government revenues, and increasing deficits.