000			02777cam a22003494a 4500
001			7575
003			The World Bank
005			20181114094401.0
006			m d
007			cr cn|||||||||
008			160412s2016 dcu o i00 0 eng
024	8		_a10.1596/1813-9450-7575
035			_a(The World Bank)7575
100	1		_aMcGuirk, Eoin.
245	1	4	_aThe Political Economy of Direct Dividend Transfers in Resource-Rich Countries _h[electronic resource] : _bA Theoretical Consideration / _cEoin McGuirk.
260			_aWashington, D.C. : _bThe World Bank, _c2016.
300			_a1 online resource (42 p.)
520	3		_aThe acceleration of natural resource discoveries across many parts of the developing world has highlighted the urgent need for solutions to the mismanagement of windfalls that has blighted many countries over the past half-century. One proposal involves istributing annually a share of resource rents to citizens in the form of direct dividend transfers. Although many scholars and policy makers have discussed the potential economic and political ramifications of the proposal from a normative perspective, few have analyzed positively the conditions under which such a policy may emerge as a politically rational choice. This policy research paper fills that gap by modeling the decision of political leaders to allocate resource revenues between cash transfers, public goods, power-preserving activities, and personal consumption. The analysis finds first that propitious political conditions, including competitive elections, undeveloped patronage networks, and a high degree of budgetary accountability, increase the share of resource revenues to be spent on citizens' welfare. The paper then shows that a high poverty headcount and inefficient public institutions will each strengthen the political incentive to provide direct dividend transfers relative to public goods. This combination of conditions is rare, which may explain why relatively few countries have implemented or plan to implement direct dividend transfers.
650		4	_aCash Transfers.
650		4	_aDebt Markets.
650		4	_aEconomic Theory and Research.
650		4	_aFinance and Financial Sector Development.
650		4	_aMacroeconomics and Economic Growth.
650		4	_aNatural Resources.
650		4	_aPolitical Economy.
700	1		_aGiugale, Marcelo.
700	1		_aMcGuirk, Eoin.
700	1		_aRajaram, Anand.
776	1	8	_aPrint Version: _iMcGuirk, Eoin. _tThe Political Economy of Direct Dividend Transfers in Resource-Rich Countries : A Theoretical Consideration. _dWashington, D.C. : The World Bank, 2016.
830		0	_aPolicy research working papers.
830		0	_aWorld Bank e-Library.
856	4	0	_uhttp://elibrary.worldbank.org/doi/book/10.1596/1813-9450-7575
999			_c28694 _d28694