Scoping review of the inclusion of economic analysis in impact studies of natural resource extraction projects

Abstract

The extraction of natural resources, such as minerals, oil, and gas, can have profound economic effects. The application of economic analysis methods in impact studies of resource extraction projects holds potential to inform decision-making in order to optimise gains and minimise negative externalities. This paper aims to identify and characterise peer-reviewed publications that report on economic studies implemented as part of impact assessments of resource extraction projects. We conducted a systematic scoping review in PubMed and Scopus of articles published between 1998 and 2020. Out of 1,579 raw hits, we identified 13 articles describing 15 economic analyses of resource extraction projects. Half of the identified papers presented economic analyses conducted in the context of mining and oil/gas projects. The majority of the identified studies dealt with the cost and/or benefits of environmental and/or social impacts. Only one study investigated economic aspects associated with potential health impacts. Given the small number of papers identified, economic analysis of impacts associated with natural resource extraction projects seems to be a small field of published research. Yet the inclusion of economic analysis in impact assessment of resource extraction projects holds promise to better harness benefits for local communities and governments while minimising negative externalities.