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Diagnosing Governance Challenges in the Extractive Sector: The Resource Governance Index and Beyond

12 October 2017 4:00PM EDT

  • Event

  • Ending 5:30PM EDT

Natural resource discoveries usually spur optimism about development, but research shows that the economies of countries rich in resources have grown more slowly than the economies of countries that are resource-poor. 
As part of the 2017 Civil Society Policy Forum of the International Monetary Fund and World Bank Group Annual Meetings, NRGI hosted the Washington, D.C., launch of the 2017 Resource Governance Index (RGI) on 12 October. The Washington, D.C., launch follows a June global launch in London.


Read a Bretton Woods Project transcript of the Washington, D.C., launch. Listen below. 


Presentation

Natural resource discoveries usually spur optimism about development, but research shows that the economies of countries rich in resources have grown more slowly than the economies of countries that are resource-poor. One reason for this disparity is quality of governance.

As a first step to improving this situation, it is important to diagnose in detail what works and what does not, and that requires measurement. This is the goal of the recently released RGI, which assesses the quality of natural resource governance in 81 countries that together produce a considerable portion of the world’s natural resources.

In addition to showcasing the findings of the 2017 index, this session featured a high-level interactive discussion on how government, citizens, companies, investors and international financial institutions can meet the governance challenges they are faced with and what tools they have to help them in this task.

Liz McGrath (@ElizaMcGrath), NRGI research and data director, started the session with a presentation of the 2017 Resource Governance Index findings. 

Then, moderator Daniel Kaufmann (@kaufpost), NRGI's president and CEO, guided an interactive involving the audience and the following expert panelists:
  • Thomas Baunsgaard, extractives and tax lead, IMF Fiscal Affairs Department
  • Bennett Freeman, responsible investment expert, NRGI board of directors member, Global Witness advisory board chair 
  • Isabel Munilla (@IsabelMunilla), senior policy advisor for extractive industries, Oxfam America
  • Vera Songwe (@SongweVera), executive secretary, United Nations Economic Commission for Africa  

Location
WASHINGTON, D.C.
Countries
United States
Regions
North America