Preprint Article Version 1 Preserved in Portico This version is not peer-reviewed

The Policy Framework of Natural Resource Management in Oil-Dependence Countries

Version 1 : Received: 18 November 2020 / Approved: 19 November 2020 / Online: 19 November 2020 (08:41:25 CET)

How to cite: Ertimi, B.; Sarmidi, T.; Khalid, N.; Helmi Ali, M. The Policy Framework of Natural Resource Management in Oil-Dependence Countries. Preprints 2020, 2020110496 (doi: 10.20944/preprints202011.0496.v1). Ertimi, B.; Sarmidi, T.; Khalid, N.; Helmi Ali, M. The Policy Framework of Natural Resource Management in Oil-Dependence Countries. Preprints 2020, 2020110496 (doi: 10.20944/preprints202011.0496.v1).

Abstract

The resource curse indicates that economic growth performs poorly in countries with significant natural resources. Nevertheless, certain countries rich in energy managed to protect their resource riches in the long run. It is necessary to enforce effective policies in resource-rich countries to fully leverage the advantages which can come from the abundance of natural resources. This study aimed to evaluate how oil-rich countries would avoid resource flows by successful fiscal and management policies. By taking the guidance of Norway and implementing fiscal policy focused on tax rules on its oil management, it is proposed that oil-exporting countries benefit significantly. The framework attempts to mitigate this resource curse and utilise oil revenues in the interest of the country.

Subject Areas

resource management; oil curse; footprint; fiscal policy

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