Local Content Policies in Resource-rich Countries

"This important book shows clearly that the ability to achieve - and deliver - results is conditioned by a range of domestic and international parameters that can be conducive or not conducive to a gradual evolution of local content. The authors use a range of excellent country case studies to illustrate the role local content can have in governments' oil and gas policies. The book shows the variation of policies used by governments and the steps that need to be addressed by political leaders as well as industry participants. The book provides valuable insights for political leaders, governments, regulators, oil companies and the many, large and small companies in the oil and gas supply chain." (Willy H Olsen, Senior Advisor, INTSOK, and former Senior Advisor to the President and CEO of Statoil) "This book is a path-breaking examination of resource-rich countries' policies aimed at retaining a greater share of resource revenues or at diversifying their economy. The detailed case studies of Norway and the UK, Kazakhstan and Russia, and Brazil reveal the wide range of sectoral and economy-wide local content policies, and the authors provide a thorough assessment of such policies' costs and benefits." (Richard Pomfret, Professor of Economics at the University of Adelaide, Australia)

This book analyses the role of local content (LC) policy in the economic development of five resource-rich countries: Brazil, Kazakhstan, Norway, Russia and the UK. Structured in five chapters, the book begins with an introduction and then presents an overview of LC definitions and situates LC policies within a framework of economic development.This book analyses the role of local content (LC) policy in the economic development of five resource-rich countries: Brazil, Kazakhstan, Norway, Russia and the UK. The authors situate LC policy within a framework of sustainability in the form of industrial diversification and innovation-led growth, and examine how effective LC policies are in facilitating sectoral and economy-wide catching up. Structured in five chapters, the book begins with an introduction and then presents an overview of LC definitions and situates LC policies within a framework of economic development. The third chapter compares specific examples of LC development and highlights variations in practice as well as learning across case countries. The fourth chapter focuses on macro-economic, micro-economic and institutional challenges conditioning LC development and the ability of LC policies to assist innovation-led growth. The authors conclude by examining what the future holds for LC policies and their role in promoting economic growth and addressing the wider social, political and economic challenges in resource-rich countries.