Sovereignty, the ‘resource curse’ and the limits of good governance: a political economy of oil in Ghana

Phillips, James L.; Hailwood, Elena; Brooks, Andrew

doi:10.1080/03056244.2015.1049520

Cited by 57 publications

(17 citation statements)

References 35 publications

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“…Although oil windfalls often decrease the quality of public spending in oil-rich countries, the Ghanaian government seems to behave rationally. They implemented the sovereign wealth funds that aims to protect against oil price volatility and save revenue for future generations [Phillips et al 2016]. They provided legislation against unaccountable government spending of oil revenue that ensures transparency, accountability and sustainability in managing revenue from natural resources.…”

Section: Ghana's Economy and Its Vulnerability To The Dutch Diseasementioning

confidence: 99%

Crude Oil Export of Ghana and Its Impact on the Economy

Czech

Imbeah

2019

Annals PAAAE

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The aim of the paper is to illustrate the impact of crude oil commercial production and export launch in Ghana on the country’s economy. The study is conducted based on one factor variance analysis and Tukey’s Honest Significant Difference test. Analysis is related to the Dutch disease paradox. Ghana constitutes an eminent and interesting example of a natural resource-rich country, where oil commercial production started late, in 2011. Monetary policy in Ghana seems to be effective in mitigating the effects of the Dutch disease. Research results imply that the Ghanaian Cedi depreciated rather than appreciated since crude oil export’s launch. Moreover, it is shown that the increase in oil export has not had a significant impact on the export of non-fuel goods. Additionally, the study shows that the launch of oil commercial production was associated with a contraction of agricultural value added. The rise in oil export led to a significant decrease of the rural population share in the total population. The agriculture sector, however, provides the main livelihood for many people in Ghana and the revenue generated in the sector plays an important role in the country’s development. The Ghanaian government should be especially concerned about issues related to agricultural modernisation and education in rural communities.

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Section: Ghana's Economy and Its Vulnerability To The Dutch Diseasementioning

confidence: 99%

Crude Oil Export of Ghana and Its Impact on the Economy

Czech

Imbeah

2019

Annals PAAAE

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“…A further example from the oil sector is the 'scandalously generous' (Phillips et al, 2016: 30) deal with Kosmos Energy in 2004, which many believe was meant to generate kickbacks for allies in the Kufuor-led NPP ruling coalition. Industry analysts estimated that the Kosmos contract would mean the government would lose US$3.8 billion in tax revenues over the lifespan of the West Cape Three Points oil block, in comparison to Tullow Oil's terms for the adjacent Deepwater Tano block (Wood Mackenzie 2012, cited in Phillips et al, 2016). Ayee et al (2011) also argue that overgenerous concessions granted to some mining companies may have been granted 'as a reward for political support and financial kickbacks' (2011: 21).…”

Section: Competitive Clientelism and Mining In Ghanamentioning

confidence: 99%

Governing Extractive Industries

Bebbington

Abdulai

Bebbington

et al. 2018

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Proposals for more effective natural resource governance emphasize the importance of institutions and governance, but say less about the political conditions under which institutional change occurs. This book synthesizes findings regarding the political drivers of institutional change in extractive industry governance. The authors analyse resource governance from the late nineteenth century to the present in Bolivia, Ghana, Peru, and Zambia. They focus on the ways in which resource governance and national political settlements interact. Special attention is paid to the nature of elite politics, the emergence of new political actors, forms of political contention, changing ideas regarding natural resources and development, the geography of natural resource deposits, and the influence of the transnational political economy of global commodity production. National elites and subnational actors are in continuous contention over extractive industry governance. Resource rents are used by elites to manage this contention and incorporate actors into governing coalitions and overall political settlements. Periodically, new resource frontiers are opened, and new political actors emerge with the power to redefine how extractive industries are governed and used as instruments for development. Colonial and post-colonial histories of resource extraction continue to give political valence to ideas of resource nationalism that mobilize actors who challenge existing institutional arrangements. The book is innovative in its focus on the political longue durée, and the use of in-depth, comparative, country-level analysis in Africa and Latin America, to build a theoretical argument that accounts for both similarity and divergence between these regions.

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“…Indeed, it has been argued that the energy infrastructures in most parts of the global South are connected to historical antecedents in the socioeconomic and political realms, and hence, their development is shaped by various path dependencies (Power et al 2016). Moreover, the enthusiasm and contestations exuded by the two dominant political parties (the New Patriotic Party and the National Democratic Congress) in the wake of the discovery of oil in 2007 (Phillips, Hailwood and Brooks 2016), and the subsequent improved gas infrastructure development compared to the weak RE infrastructure development, vindicate the existing infrastructural dominance of thermal-led energy.…”

Section: Ids Bulletinmentioning

confidence: 99%