Does EITI prevent the natural resource curse in financial development?
- HAL (Le Centre pour la Communication Scientifique Directe) : 1-6
Résumé
The mismanagement of natural resources can compromise the efficiency of factors essential to economic development, commonly called the "resource curse". In addition to worsening the socio-economic situation, dependence on natural resources can hinder the emergence of an efficient financial system in countries with weak institutions. Conversely, good management of natural resources can enable low- and middle-income countries to improve their economic performance. We first describe the theoretical mechanisms underlying the existence of such a "resource curse" and then present empirical evidence of the potential mitigating effect fostered by implementing the Extractive Industries Transparency Initiative (EITI) standard.
Mots-clés
Financial development, Resource curse, Natural resource, Transparency, Développement financier, Malédiction des ressources, Ressources naturelles, Transparence