How can revenues derived from natural resource exploitation be translated into real benefits for the citizens of resource–rich countries? This is an urgent question. Despite unprecedentedly high prices of natural resources such as oil and gas on the global market, resource–rich countries are home to over 60% of the world’s poorest people. Twelve of the world’s 25 most mineral–dependent states, and six of the world’s 25 most oil–dependent states, are classified by the World Bank as "highly indebted poor countries", with some of the world’s worst Human Development Indicators. This counterintuitive phenomenon is known as the "resource curse”. Mineral wealth, it seems, sometimes impoverishes countries. This presents a major obstacle for the international community in the fight against poverty and in the achievement of the Millennium Development Goals. By refining the insights into the relationship between natural resources and sustainable development, the authors in this...

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