The Extractive Industries Sector

Essentials for Economists, Public Finance Professionals, and Policy Makers

Havard Halland, Martin Lokanc, Arvind Nair, Sridar Padmanabhan Kannan

• Publisher: World Bank
• Year: 2015
• eBook ISBN:
  9781464804922
• Topic: Betriebswirtschaft
• Subtopic: Industrielle Gewinnung natürlicher Ressourcen

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.

Table of contents

• Front Cover
• Contents
• Acknowledgments
• About the Authors
• Abbreviations
• Overview
• Organization of this Volume
• Chapter 1 Defining Sector Policy Objectives
• Chapter 2 The Economics of the Extractive Industries Sector
• Chapter 3 Institutional Framework
• Chapter 4 Investment and Production Cycles
• Chapter 5 Extractive Industries Policy
• Chapter 6 Monitoring and Enforcing Contracts: Legal Obligations and Institutional Responsibilities
• Chapter 7 Public Infrastructure and Investment
• Chapter 8 Economic Diversification and Local Content Development
• Appendix A Resource Classification Frameworks
• Appendix B Types of Economic Rents
• Appendix C Impact of Income Changes on Commodity Demand
• Appendix D Effective Resource Contract Enforcement: A Checklist of Guidelines
• References
• Boxes
• Figures
• Tables
• Back Cover