Windfalls, wipeouts, and local economic development: A study of an emerging oil city in West Africa

Publisher:
Sage
Publication Type:
Journal Article
Citation:
Local Economy, 2013, 28 (4), pp. 1 - 15
Issue Date:
2013-01
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Analysis of the political economy of oil tends to be under the rubric of 'resource curse' to the neglect of the broader problematique of the distribution of windfalls and wipeouts, the mediating role of institutions, and broader issues of local economic development. This article tries to fill this lacuna by focusing on the experiences of Sekondi-Takoradi, an oil city located in Ghana. Using the principles of eminent domain and decentralisation as analytical framework, it shows `who gets what' in an oil city; demonstrates why different levels of compensation and betterment ought to be paid and received; and reveals the role and struggles of the local State in trying to ensure harmonious local economic development.
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