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Title: Petroleum resource management and economic development in sub-Saharan Africa : the cases of Nigeria and Angola
Author: Cole, O.
Awarding Body: University of Cambridge
Current Institution: University of Cambridge
Date of Award: 2007
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This dissertation explores the experiences and economic performance of the two established petroleum producers in sub-Saharan Africa, and identifies what lessons can be learned and adopted or avoided by emerging hydrocarbon producers in the continent. Over 30 countries in sub-Saharan Africa are at varied stages of petroleum exploration and oilfield development, with increasing success, particularly along the western coast from Mauritania in the north to Namibia in the south. It is important for this new-found wealth to be properly managed in order to improve the lives of millions of Africans living in abject poverty. Chapter 1 presents an overview of the Sierra Leone economy and demonstrates the unfortunate link between natural resource endowment, violent conflict, political instability, and economic deterioration. Chapter 2 explores the relevant literature on the economic performance of resource-rich countries, particularly petroleum producers, with regard to the Resource Curse Hypothesis and Resource-Based Industrialization (RBI). Chapters 3 and 4 provide a comparative study on the experiences and economic outcomes in Nigeria and Angola, which have production levels at around 2.5 and 1.4 million barrels per day respectively. Both chapters investigate whether the economic success or failure in each country can be attributed to historical socio-political factors such as the slave trade, colonization, ethnic-religious differences, and civil wars, or to recent management-related factors such as the improper management of their oil industries, poor political leadership and decision-making, inefficient resource allocation, and the lack of a viable long-term economic diversification strategy. Chapter 5 provides an insight into how emerging oil-producing countries like Sierra Leone can better approach the problem of managing their future petroleum industries and successfully diversify into sustainable industries.
Supervisor: Not available Sponsor: Not available
Qualification Name: Thesis (Ph.D.) Qualification Level: Doctoral
EThOS ID:  DOI: Not available