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Blogpost: Beyond transparency: What’s next? | A blog about Governance and Development for All
Source of the information:
Governance for Development (WB)
Does transparency lead to development? Not necessarily. At least not when it comes to the oil, gas, and mining sectors. Transparency is important but far from sufficient to improve livelihoods. An ongoing discussion among practitioners on the Governance of Extractive Industries (GOXI) platform reveals a lack of clear answers to this question.
“Revenue transparency is a necessary yet insufficient part of the drive to attain sustainable development outcomes from extractive industries. Transparency must go hand-in-hand with competent public institutions and good public spending in the context of government leadership and commitment to using the revenue to promote sustainable development outcomes.”