This volume focuses on the political economy surrounding the detailed decisions that governments make at each step of the value chain for natural resource management. From the perspective of public interest or good governance, many resource-dependent developing countries pursue apparently short-sighted and sub-optimal policies in relation to the extraction and capture of resource rents, and to spending and savings from their resource endowments. This work contextualizes these micro-level choices and outcomes.

Rents to Riches?: The Political Economy of Natural Resource-Led Development (World Bank Publications)

Business & Money

Barma, Naazneen

Kaiser, Kai

Le, Tuan Minh

Viñuela, Lorena

Economics

World Bank Publications

Public resources―if invested well in public infrastructure and services―can catalyze private and community e orts and unleash an inclusive growth and development process. But too often public projects are selectedto support political patronage, poorly designed, underfunded, long delayed, very costly, or badly implemented, with little bene t to the population. This is a critical challenge for many countries, both rich and poor. This book identi es eight key institutional features that countries need to adopt to ensure that public investments support growth and development. The Power of Public Investment Management provides a clear, nontechnical discussion on approaches to improving project appraisal, disciplining political intervention in project selection, dealing with uncertainty (an issue that is likely to grow in importance with the e ects of climate change), integrating procurement skills into project design and implementation, and managing the decision on public-private partnerships. Byproviding a simple but comprehensive framework and global experience, the book provides policy makers the guidance to adopt good functional principles in the design of institutions to strengthen public investment management.

The Power of Public Investment Management: Transforming Resources Into Assets for Growth (Directions in Development - Public Sector Governance)

Rajaram, Anand

Kim, Jay-Hyung

Frank, Jonas

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Books by Kaiser, Kai