World Economy and Policy, 2024 (vol. 2024), issue 2

Natural Resource Management: Important Institutional Factors for Value Realization Governance in the Extractive Industry

Monika Smělá, Jiří Sejkora

World Economy and Policy 2024, 2024(2):1  

Countries rich in natural resources have potential to develop their economies thanks to natural resource exploitation. However, solely some of them manage to make use of natural resource wealth and avoid resource curse. The success of natural resource management is dependent on revenue management and settings of value realization in extractive sector. However, these aspects interact with institutional background in a country, for this reason, it is crucial to understand which aspects of institutional background positively impact value realization in countries endowed with natural resources. The main goal of this paper is to identify which conditions,...