The Extractive Sector and Development in Latin America: The Rising Role of Transparency in Natural Resource Governance

Paul Fenton Villar*, Elissaios Papyrakis, Lorenzo Pellegrini

*Corresponding author for this work

Research output: Chapter/Conference proceedingChapterAcademic

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Abstract

The ‘resource curse’ literature suggests that resource abundance, far from propelling development forward, might instead undermine it. Still, it is increasingly argued that with appropriately implemented governance frameworks, resource-rich countries might mitigate some of the negative externalities associated with natural-resource extraction. Focusing on Latin America, this chapter analyses the Extractive Industries Transparency Initiative (EITI) and its potential role in improving development outcomes arising from the operation of the extractive sector. The chapter shows that EITI membership in the region is growing, but it still remains limited and that progress among those countries that have joined has been slow. However, there are some unfolding contributions concerning the EITI’s practical development of transparency standards in Latin America, especially in Peru and Colombia. The chapter suggests that more progress of this nature will need to be made if the region is to realize fully the development potential of the natural resources sector.
Original languageEnglish
Title of host publicationInnovation, Competitiveness, and Development in Latin America
Subtitle of host publicationLessons from the Past and Perspectives for the Future
EditorsEdmund Amann, Paulo N. Figueiredo
PublisherOxford University Press
Chapter8
Pages190-212
Number of pages23
ISBN (Electronic)9780197648049
ISBN (Print)978-0-19-764807-0
DOIs
Publication statusPublished - 21 Mar 2024

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