Natural resources: The current debate

This essay identifies the main points in the natural resources debate. After highlighting the issues of sovereignty, distribution of benefits, deterioration in the terms of trade, and the institutional structure of world markets, which have been particularly important over the last forty years, it suggests that the debate should now get away from demands and counter-claims and concentrate instead on questions of sustainability and competitiveness. In conclusion, it proposes a regional initiative to strengthen the capacity to manage the natural heritage and resources and promote the wider spread and incorporation of technical progress.