Collier and Kaufmann Discuss a Natural Resource Policy for Inclusive and Sustainable Growth

When an abundant natural resource is discovered within a country's borders it can turn into a long-term economic boon for the many or, if mismanaged, a brief but lucrative jackpot for an unscrupulous few. CEU School of Public Policy (SPP) Visiting Professor Paul Collier and President of the Revenue Watch Institute, Daniel Kaufmann, detailed examples of both at the March 14 lecture “From Resource Curse to Inclusive Growth? Improving Natural Resource Policymaking.”

“It is tragic that we even conceptualize this as a curse; it should be an opportunity,” said Collier who is also a professor of economics and public policy at Oxford's Blavatnik School of Government. “When you look underground and find something of enormous value, you should say 'Wow! This is a tremendous chance for a poor country to turn it into sustained prosperity.' But historically, the discovery of these resources has turned into sadness; they have turned societies sour – toward violence and the perpetuation of poverty.” The public lecture took place in the margins of a two-week executive education course SPP organized in partnership with the Revenue Watch Institute and the Natural Resource Charter. It equips an exceptional pool of individuals with the knowledge and tools necessary to help reverse the resource curse."

Dean of SPP Wolfgang Reinicke introduced the speakers and Jim Cust, acting director of the Natural Resource Charter (London), moderated the discussion.