The Extractive Industries Transparency Initiative - A Critique and Proposed Reforms

"The natural resources sector–particularly extractive industries like mining and petroleum–is famously beset by corruption. In many countries, natural resource extraction is controlled by the wealthy, politically-connected elite, leading to a form of “resource curse” in which the majority of the population does not benefit from natural resource wealth and economic development outside the extractive sector stagnates. One of the most prominent strategies that has emerged in recent years to combat corruption in the extractive sector is a push for greater transparency. While many advocates of this strategy have pushed–with some qualified success–for laws that require greater disclosure by companies and governments, one of the most important pro-transparency initiatives is voluntary: the so-called Extractive Industries Transparency Initiative (EITI)."

Read the post by Maryum Jordan in The Global Anticorruption Blog.

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