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You read ‘Managing Olive oil Wealth: A great Exploration Of Lessons Emerging Oil Nations Can Learn From Norway And Uk’ in category ‘Essay examples’ This has been particularly the case in Angola wherever oil exploration has led to the reallocation of productive elements and an appreciation in real exchange rate. Consequently, most of the industries have possibly declined or stagnated with exception in the oil sector.

A large volume of literature include explored within the resource bane phenomenon, generally linking the extraction of natural resources to conflicts, corruption, municipal war and economic decline. For example , studies by Humphreys (2005), Ross (2006) and Fearon (2005) have identified natural solutions as rendering both financial and objective for informed conflict.

Auty (2001) as well points out that resource wealthy countries have since the sixties underperformed when it comes to economic development, often getting outperformed by resource-poor countries by a considerable margin. Comparable findings have already been reported by Sachs , Warner (2001), Gylfason et ing. (1999) and Leite , Weidmann (1999).

Recently, research by Neumayer (2004) which explored around the relationship between natural source abundance and economic growth, with growth measured regarding ‘genuine income’ (GDP fewer the downgrading of normal capital), produced the same results. Studies by Ross (2006), Fearson (2005) and Humphreys (2005) have likewise provided evidence supporting the resource problem thesis.

Certainly a large number of experts have shown the resource curse thesis can be described as demonstrable empirical fact. This thesis has become a popular view and is possibly encountered inside the popular press. Scholars include widely recognized this watch as a truth. Rather than vitally exploring this kind of causal marriage further to determine other parameters that may be surrounding this marriage, most of the students have instead researched the various ways through which the decline in growth is definitely manifest (Cotet , Tsui 2009). As a result, there exist relatively fewer studies that dispute the resource curse hypothesis.

Up against the popular perspective, this proposal argues that nothing is inherently cursed about oil which oil exploration does not have to a harsh picture while has been the case in the past. Great britain and Norwegian have responsibly managed their oil search activities and bore lasting, fully bundled economies and stable well being societies (Bainomugisha et approach. 2006). In the same way, it is possible for Uganda and Ghana to stop the so-called resource bane and to translate their oil discovery in to sustainable benefits.

Visibility and accountability

File corruption error is unquestionably a huge trouble that has continuing to prevent growth and development in resource abundant countries. It really is central in explaining the resource bane phenomena. Two prominent advantages by Mehlum et al. (2006) and Robinson ain al. (2006) point out to corruption as important issue, in the form of rent searching for and pilier. However , there is an emerging consensus that transparency and accountability will help curb corruption and other complications of resource-rich developing countries (Kolstad , Wiig 2008).

A number of pursuits have been taken on to improve openness and accountability in source rich countries. For example , the Extractive Industries Transparency Project (EITI) continues to be developed to boost transparency in revenues produced from extractive industries just like oil and minerals (Kolstad , Wiig 2008). Different initiatives include the Transparency requirement initiative of the EU, plus the IMF Guidebook on Useful resource Revenue Openness. The pitch, however , would not seek to elaborate about these pursuits in detail as it is beyond the scope of study.

Although there is solid empirical evidence pointing to the relationship among transparency and less corruption, it must be recognized that transparency itself is not sufficient to cope with the reference curse. The effect of transparency on corruption is in fact conditional on education (Kolstad , Wiig 2008). In a individual country level, it is hard to demonstrate the conditional effect of transparency.

However , if we a draw comparison among countries these kinds of Angola and Liberia, it might be easier. Both equally countries are becoming more translucent following the end of the detrimental wars. Irrespective of being transparent, the level of problem has simply been lowered in Liberia, as measured by the Kaufmann control of data corruption index (Kolstad , Wiig 2008). Angola, on the other hand, have not seen any kind of significant advancements.

Furthermore, visibility may not always address issues of problem and may rather further worsen this problem. For example , whilst visibility makes it possible to discover corrupt officials, it can too make that easier to determine relevant officials that may be bribed. That is, this reveals to potential bribers persons that can be approached in order to get an unjust advantage. The identification result may thus dominate the detection result thereby further more exacerbating challenges of data corruption.

Whilst openness is one of the ways through which countries can enough time resource bane, at present, there exist simply no systematic studies exploring the relative impact of transparency compared to other feasible policies (Kolstad , Wiig 2008). If transparency is more appropriate to other plan alternatives as a result remains a problem for further study.

Good governance

The issue of transparency and liability is closely tied with good governance. Recent studies exploring the resource curse tendency have burdened the importance of experiencing in place good governance to ensure transformation of resource rent into good development effects. In particular, two prominent input see great governance because key to avoiding the useful resource curse.

According to Mehlum et ing (2006), resource rents often draw qualified workforce away of productive activities and into rent-seeking. As such, the real key to addressing this problem is always to increase elegance of the successful sector by having in place good institutions. Showing a relatively similar perspective, Robinson ou al. (2006) argues that patronage is an essential cause of resource curse. Consequently, they claim that the key to avoiding it truly is putting in place establishments that will limit the government’s ability to deliver public sector positions to political proponents.

Income management

Democracy is an additional issue of great importance. Studies by Ross (2001) and Aslasken (2007) have shown that oil prevents democracy. These kinds of authors have got attributed this hindrance for the rentier result. Since governments have control of substantial earnings from essential oil booms, they will hinder democracy through patronage, that is, by giving its proponents with specific advantages such as public sector positions. To be able to address the resource problem, there is dependence on proper administration and ideal use of revenues.

Natural methods are exhaustible in mother nature and as such might be rendered outdated. Measurements of permanent profits thus have to take account of the characteristics. Spending must be depending on present worth of predicted revenues, having taken into consideration concern of the rates and the time of resource exhaustion (Kolstad , Wiig 2008). In other words, earnings ought to be salvaged and correctly managed to make sure a permanent stream of income.

Monetary policies

Fiscal procedures also have a significant role to try out in addressing the problem of resource curse and the “Dutch disease which may be minimized through decoupling of fiscal policy from revenue fluctuations. This can be made possible through containment of fiscal spending, inflation and containment of nominal exchange rate understanding (Coutinho 2011). Norway is known as a prime sort of a country that has benefited from the fiscal procedures.

To avoid overspending its essential oil revenues, Norwegian adopted money guidelines in 2001. Norway’s fiscal suggestions include a regulation that makes certain that the central government’s non-oil structural deficit is within 4% of the anticipated real return on Petroleum Fund possessions (Coutinho 2011). This old-fashioned approach that this Norwegian federal government has used has enabled it to counter the uncertainty of its oil wealth. Since pointed out by Jafarov , Moriyama (2005), Norwegian’s essential oil revenue policy has empowered the country to limit the Dutch disease effects by simply protecting the non-resource industries from the impact of fluctuations in petroleum prices.

While the Norwegian oil insurance plan could be viewed as a prime example of a successful coverage framework, Humphrey , Sandbu (2007) have got pointed out that the institutional limitations imposed by Norway’s fund on coverage makers happen to be weak and might not be efficient in surroundings with weak institutional platform. Nevertheless, the Norwegian oil policy features enabled the region to built a competent nationwide oil sector which has been well-managed up to date (Ryggvik 2010).

UKand Norway as coal and oil countries.

The UK and Norway will be prime examples of countries that have successfully been able their all-natural resource prosperity. In particular Norwegian, which is the second greatest export of oil around the world, shows no symptoms of a resource abundance bane. However , a single factor that will be pointed out that differentiates the experience of Norwegian from the other oil creating countries may be the timing of natural resource discovery. In contrast to many other OPEC countries, the discovery of oil happened at a time when ever Norway had been a developed country (Mehboob 2012).

Yet, the Norwegian government features successfully handled its all-natural resources, avoiding the useful resource curse that has afflicted lots of the OPEC countries. In fact , Norway was placed as primary in the democracy index by a recent UK economic intelligence report. This decision was based on numerous criteria which includes transparency, accountability, election freedom and fairness, influence of foreign capabilities and ability to implement procedures (Campbell 2012). Voluminous studies have also shown that good policies and good governance had been central towards the success of Norwegian petrol sector.

Using this lengthy books survey, two observations may be made. Initial, whilst there may be strong proof pointing towards the association among natural reference abundance and adverse effects on the economic climate, the evidence is by no means conclusive. The other observation is that there are simply no adequate accounts for the function of social forces or perhaps political conditions in healthy diet development outcomes. Research has were known to take a reductionist way, explaining expansion performance entirely in terms of the type and a country’s endowment of the normal resources.

Even though a consensus is appearing that the romance between a country’s source wealth and development outcomes may be formed by specific political and social variables, scholars have got tended to ignore these kinds of variables and in turn taken the view that reference rich countries experience slow growth in comparison to resource poor countries. As opposed to this view, this pitch demonstrates how emerging economies in The african continent can get away the resource curse which has afflicted many of the petro-countries.

While there is good evidence linking the ‘resource curse theorem’ with poor development effects in many from the resource abundant countries in Africa, growing economies such as Uganda and Ghana may avoid this phenomena restoration good governance, transparency and accountability, effective revenue management and implementing fiscal policies that would help build skilled national olive oil industries. The UK and Norwegian are perfect examples of countries that have effectively managed their very own oil prosperity. Emerging economies can study from these two countries.

Research questions

This study seeks to deal with the following research questions:

Just how can new and emerging olive oil nations ensure realization of oil and gas policies to avoid the resource problem

How can the oil wealth management policies of Norway and UK assist rising oil nations like Bekwai, ghana and Uganda

Research methodology

Explorationstrategy/Approach

Whether one is knowledgeable about a texte topic or not, it is necessary to have within a place a exploration strategy that can help the investigator to collect the required data for analysis. On this factor, a research technique is a methodological approach that may be taken by the researcher to review a particular research issue. As defined by Saunders et al. (2009), it is a basic plan that guides the researcher in investigating a particular research issue. In a related vein, Bryman (2008) defines research strategy as “a general positioning to the conduct of research (pp698). Saunders et ing. (2009) even more states a particular technique has to be picked based on research objectives and questions, magnitude of existing knowledge about the topic under research, time and accessibility to resources, plus the philosophical underpinnings of the researcher ( Saunders et al. 2009, s. 600).

Based on this criterion, different analysis strategies might be employed by the researcher. While there are various analysis strategies, Saunders et ‘s (2009) and Yin (2003) acknowledge a large overlap exists among these strategies. As such, of great importance should be to select the most advantageous strategy. Being among the most commonly used study strategies are survey, test, case study, ethnography, grounded theory, cross sectional studies and participative inquiry among others. The proposed dissertation seeks to hire a case research research technique. While examining the overall appearing economies in Africa, the analysis will devote particular focus to Uganda and Ghana as the truth studies.

Rationale for choosing case study exploration approach

Relating to Robson (2002), a case study study strategy refers to a research technique that involves a great observed investigation of a particular phenomenon within a real life framework (Robson 2002: p. 178). Case study is considered ideal for the proposed feuille as it allows the specialist to focus on the particular context, and for in-depth analysis of the concern at hand.

Even more, Case study research has been favored over other research strategies while the research queries take the form of ‘how’. This kind of research study continues to be developed to reply to to the analysis questions: 1 . how can fresh and growing oil nations around the world ensure conclusion of coal and oil policies in order to avoid the source curse2. How do the olive oil wealth managing policies of Norway and UK help emerging petrol nations like Ghana and Uganda?

It can be evident the research queries predominantly include ‘how’ kind of research concerns, hence suited for a case research research. Chetty (1996) as well points out that case study research is important as that leads to the observation of new insights that will otherwise not need emerged with other research strategies such as online surveys. The qualitative case study can explore the oil and gas managing policies and theories in Norway and UK, and examine just how emerging international locations, particularly Uganda and Ghana, can learn from these countries which have created competent petrol sectors. The case study approach is supposed to capture the complexity surrounding management of oil prosperity in these growing economies.

Qualitative approach

Many scholars include differentiated between qualitative and quantitative study. One of the important issues that have been used to attract distinction between two may be the nature of data. With quantitative research method, the data is hard, objective and standardized. Good results . qualitative method, the data can be rich and deep (Corbetta 2003). Bickman et approach. (1998) and Maxwell (1998) have even more added interactivity as one of the popular features of qualitative analysis.

The nature of data needed for the proposed dissertation is abundant and deep. The richness of the info is necessary in order to identify the existing management methods employed by Norway and the UK in the administration of their essential oil wealth that may then become reflected in designing a great applicable administration model for emerging countries such as Uganda and Bekwai, ghana.

Info collection

The research question: ‘how can easily new and emerging essential oil nations assure realization of oil and gas plans to avoid the resource curse? ‘ requires an extensive quantity of investigation. As such in-depth interviewing is usually deemed more appropriate for this analyze. Interviews to be used as the principal source of collecting data. Interviews will be carry out with key informants in Norway as well as the UK that will shed a light on the plans governing the management of oil and supply an explanation concerning how these economies had been able to break free the reference curse tendency and the ‘Dutch disease’. The interviewees can comprise of crucial informants in the oil sector such as the community leaders and policy experts, international and national diplomats, and policy drivers in transnational companies, consultants and experts in the oil market. A total of 30 respondents will be interviewed.

Further, a desk study will be execute to dietary supplement the primary info. This will require collecting second qualitative data which will be produced from previous research studies. Both documented and on-line material related to the research matter will be analyzed. The secondary qualitative info will be obtained from archival files, official authorities publications, plan papers, statistical data and lots of other guides including catalogs and educational journals.

Expert reviewed periodicals will include the European Economical Review, Diary of Peacefulness Research, Cyprus Economic Coverage Review, Log of Resolve conflicts, The Financial Journal, and Journal of Development Economics among others. This secondary info will health supplement the primary info collected and improve reliability and quality of the exploration findings.

Data research

The data obtained from complex interviews is definitely rich in fine detail, contextually laden and very subjective. Such data must be reworked or reduced to represent key themes that describe the phenomenon under study. As a result, thematic examination has been picked as the main approach to examining the qualitative data in the proposed in dissertation. Because defined by simply Saunders ain al. (2009), thematic analysis refers to quantitative content evaluation that involves the identification of patterns and themes within data.

Thematic analysis is specially common with qualitative research. It involves recognition of a volume of emerging designs which reflect the calcado data. Even though it may sound easy, thematic analysis require the specialist to be familiar with their very own data in order to provide insightful analysis. Data familiarization is therefore key to thematic analysis.

Limitations of qualitative exploration

Whilst great that exploration objectives of the research could be achieved, generally there certain challenges that may be encountered with the methodological approach. Because pointed out simply by Bryman (2004), qualitative results tend to count much in researchers frequently unsystematic views on what is essential and significant, and analysis findings might be influenced by researcher’s biases.

Moreover, the findings obtained from a qualitative case study is probably not generalizable given the set of few respondents. The scope of qualitative research is often limited to single cases and as such, it becomes hard to generalize the findings. Likewise, respondents may choose to provide phony information that might affect the reliability of the findings. Despite these kinds of criticisms, qualitative research has been chosen while the research way in the present research.

Generalizability, validity and reliability

The researcher will avoid the prejudice associated with qualitative research by simply deliberately seeking data via various options including recognized government paperwork, policy documents and other relevant secondary options. This supplementary information will be used to dietary supplement the findings obtained from the main interviews.

Ethical things to consider

Several ethical issues may arise with selection interviews with crucial informants. Given the secrecy of information on this nature, a lot of participants might not be at liberty to reveal selected sensitive details. However , the researcher assured the participant about privacy of their data. Another moral concern pertains to the issue of using secondary options without the author’s permission. To cope with this concern, the investigator is going to accept the input made by the initial authors in the secondary resources in the proposed dissertation.

Conclusion

Clearly, we have seen that lots of resource abundant countries particularly the African countries such as Nigeria and Angola have suffered with ‘resource curse’ and the ‘Dutch disease’. Irrespective of being the greatest oil suppliers, these source rich countries still remain at amongst the poorest on the globe. Their natural endowment is not positively correlated with economic growth and interpersonal progress. Coming from also seen a close and strong website link between ‘resource curse’ and corruption, poor governance, deficiency of accountability and transparency, poor revenue management and poor fiscal guidelines.

On a less heavy note, we have seen some of the resource wealthy countries which has been able to get away the ‘resource curse’ and ‘Dutch disease’. We’ve seen that the UK and Norwegian have efficiently managed all their natural resources. This is the result of the fact they have pursued good policies in certain areas and possess enjoyed the advantages of having source rent. However , we’ve noted that in contrast to many other OPEC countries, the discovery of oil took place at a time the moment Norway had been a produced country. This kind of perhaps indicate the differentiated experience inside the management of oil riches between Norway and other olive oil producing countries.

Nonetheless, we all argue that the emerging economies such as Bekwai, ghana and Uganda can study from Norway as well as the UK, and leverage their oil wealth in order to come out as financial stars with out succumbing to pitfalls with the resource curse. Clearly, this kind of research is best and might contribute substantially to the administration of organic resources.

Resource need

To successfully perform this dissertation, the specialist intends to utilize a variety of extra sources. In particular, articles and academic magazines would notify this research. The internet, online-library and personal computers would promote data collection and evaluation. There is a variety of literature on management of olive oil wealth. The dissertation can thus always be based on a vital review of printed literature just like journals, articles or blog posts, and books. In addition , the researcher hopes to review pr campaigns, government documents and gross annual work strategies such as the 2012 Work Strategy of Environmental Management in the Oil and Gas Sector. This would make certain that the dissertation is constant, professional along with the highest quality.

Presented the great deal of study conducted on this topic, the researcher is usually positive the dissertation will be successfully accomplished without much price or long term hindrance. Further, frantic work and time would be committed towards inspecting the posted literature and augmenting that with the primary data accumulated.

Timetable/ Gantt data

Activity September August November Dec January

weeks 12341234123412341234

An assessment prior research and any relevant literature

draft with the literature assessment

research design and style and approach

Design of interview questions

Connection with essential informants and scheduling of interviews

Interviews with essential informants

Info collection

Data analysis (Thematic analysis)

structure of the draft of the job

submit to tutor pertaining to the revision

final examine of the data and accuracy of the drafted project

final submission

Guide

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