The Extractive Industries Sector
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Washington, DC: World Bank
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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.
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NATIONAL ACCOUNTING, SOCIAL COSTS, CAPITAL MARKETS, GEOLOGICAL DATA, RECLAMATION, INTERGENERATIONAL EQUITY, ECONOMIC GROWTH, ENVIRONMENTAL PROTECTION, WASTE MANAGEMENT, PRICE ELASTICITY OF DEMAND, CHANGE IN DEMAND, AGRICULTURAL PRODUCTION, EXPECTATIONS, MARGINAL COST, PRODUCERS, RESOURCE MANAGEMENT, PROPERTY RIGHTS, ENVIRONMENTAL COSTS, BALANCE OF PAYMENTS, ELASTICITY OF DEMAND, FINANCIAL RESOURCES, LABOR FORCE, EMISSIONS, POLITICAL ECONOMY, REVENUES, ENVIRONMENTAL ISSUES, SUPPLY CURVES, ENVIRONMENTAL REGULATIONS, ECONOMIC EFFECTS, INCENTIVES, LABOR INPUTS, TAX SYSTEMS, MODELS, SUSTAINABLE DEVELOPMENT, OLIGOPOLY, ECONOMIC ANALYSIS, AUDITS, DEVELOPED COUNTRIES, ECONOMIC ACTIVITY, PRESENT VALUE, EXPLOITATION, OIL, GOVERNMENT REGULATIONS, CAPITAL GAINS, NATURAL CAPITAL, COST-BENEFIT ANALYSES, FIXED COSTS, REPLACEMENT COSTS, OPTIONS, QUOTAS, DEMAND CURVES, OPEC, BARRIERS TO ENTRY, DEBT, PRODUCTION TECHNOLOGY, POLLUTION, BENEFIT ANALYSIS, DIVIDENDS, ENVIRONMENTAL ECONOMICS, NATURAL RESOURCES, METALS, SUBSIDIES, EFFICIENCY, TAXES, LAND USE, OPTION VALUE, RESOURCES, UNEMPLOYMENT, POTENTIAL INVESTORS, EQUITY, CONSUMPTION, TECHNOLOGICAL CHANGE, ECONOMIC IMPACT, WAGES, CLIMATE CHANGE, ECONOMIC BEHAVIOR, ENVIRONMENTAL MANAGEMENT, VALUES, MARKET PRICES, ECONOMIC VALUE, POLICY MAKERS, ELASTICITIES, CREDIT, ENVIRONMENTAL IMPACTS, PURCHASING POWER, DEMAND, MINES, ASSET VALUATION, MARGINAL COSTS, PUBLIC EXPENDITURES, PRICE CHANGES, INTERMEDIATE GOODS, EXPENDITURES, PROPERTY, DECISION MAKING, ECONOMIC RENTS, TAX RATES, OPPORTUNITY COSTS, TRANSACTION COSTS, ENVIRONMENT, OLIGOPOLIES, THEORETICAL MODELS, COMPLEX TASK, STREAMS, ECONOMICS, SECURITIES, TAX REVENUE, ECONOMIC_IMPACT, ECONOMIC DEVELOPMENT, CARTELS, TRADE, LAND, ECONOMIES OF SCALE, POLLUTION PERMITS, OIL REFINERIES, PRICE CEILINGS, HEALTH PROBLEMS, ADMINISTRATIVE PROCEDURES, COMPARATIVE ADVANTAGE, COAL, FARMS, MARKET POWER, OIL RESERVES, LAW OF DEMAND, REVENUE, EMPIRICAL EVIDENCE, PRIVATE CONSUMPTION, CHLORINE, RISK MANAGEMENT, ENVIRONMENTAL ACCOUNTING, RECYCLING, ECONOMISTS, PROFITS, PRODUCTION PATTERNS, ENVIRONMENTAL, PUBLIC GOOD, WETLANDS, PRICES, OIL SECTOR, PRODUCTION COSTS, ECONOMIC CONDITIONS, ECONOMIES, PUBLIC GOODS, ENVIRONMENTAL POLICIES