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This publication demonstrates that natural resources can contribute to growth, employment, exports and fiscal revenues in low-income countries, where natural capital constitutes a quarter of total wealth. It highlights the importance of policies encouraging the sustainable management of these resources. Moreover, it emphasises the need to address the political challenges of natural-resource management for long-term pro-poor economic growth. Part I provides an overview of the economics and politics of natural resources. It describes the unique features of natural resources and resulting management challenges, the role of sustainable natural resource management in supporting pro-poor growth, and the politics and governance of natural resources. It then offers recommendations for policy makers on how to support the approaches advocated in the paper. Part II examines these issues with respect to seven specific natural-resource sectors: fisheries, forests, wildlife and ecotourism, soil productivity, water security, minerals and renewable energy.

This book presents the proceedings of a conference held near Washington, DC (Airlie, Virginia) to discuss the need for innovative new approaches to rural policy. US Federal Reserve Chairman Alan Greenspan opened the conference by stressing the crucial importance of flexibility in enhancing economic welfare and economic growth, cautioning policy makers to "be careful when utilisng subsidies as they have exceptionally negative long-term implications". Other presentations discuss regional partnerships, redefining regions, rural entrepreneurship, rural policy and regional development, federal co-ordination, and the future of rural policy.