Edited by Stella Tsani, Assistant Professor, Department of Economics, University of Ioannina, Greece and Indra Overland, Research Professor, Norwegian Institute of International Affairs, Norway

‘This book contains excellent insights into the management of natural resources in the face of climate and sustainable development targets in many different parts of the world. A must for practitioners and researchers.’

• Contents:Preface xxii1 In quest of sustainable politics and economics of natural resources:a summary of contributions and future research directions 1Stella Tsani and Indra OverlandPART I RESOURCE SPECIFICS AND CONSIDERATIONS FORPOLICY MAKING2 Natural resources and economic development 15Wee Chian Koh3 Renewable energy transition, demand for metals and resource curse effects 30André Månberger4 Local and global aspects of coal in the ASEAN countries 45Haakon Fossum Sagbakken, Aidai Isataeva, Indra Overland, Aloysius DamarPranadi, Beni Suryadi and Roman Vakulchuk5 Policies and socio-economic tools for sustainable water management 64Stella Tsani, Stella Apostolaki and Phoebe Koundouri6 Inflated expectations and commodity prices: evidence from Kazakhstan 76Victoire Girard, Alma Kudebayeva and Gerhard ToewsPART II REGIONAL RESOURCE POLITICS AND IMPLICATIONSFOR GLOBAL POLICIES AND ECONOMIC DEVELOPMENT7 Energy transition, resources and climate change investment policy in the EU 95Matthias Busse, Oliver Dreute, Vladimir Isaila and Lúcio Vinhas de Souza8 Climate change policies and resource abundance: the case of Russia 107Igor Makarov9 Green policies and sustainable development in Saudi Arabia 123Stella Tsani and Sarah Najm10 How ambitious can the Israeli Green Deal be? 136Ruslana Rachel Palatnik, Ayelet Davidovitch, Volker Krey, Nathan Sussman,Keywan Riahi and Matthew Gidden11 Powering the uplands: controversies of developing hydropower inupstream Central and Mainland Southeast Asia 153Stefanos Xenarios, Murodbek Laldjebaev, Dietrich Schmidt-Vogt, JoostBuurman and Eduardo Araral12 Small-scale mining, rural resilience and the Sustainable DevelopmentGoals in Sub-Saharan Africa 187Gavin Hilson, Titus Sauerwein and Matondo Estrela Garcia Cardoso13 Natural resource policies for future sustainability in the African continent 207Roula Inglesi-LotzPART III INSTITUTIONS AND RESOURCE POLICIES14 Corruption, resource policies and economic growth 220Heli Arminen, Tiia-Lotta Pekkanen and Jorma Sappinen15 Local content policies and institutional capacity for sustainable resourcemanagement 232Yelena Kalyuzhnova16 Success and failures of sovereign wealth funds: on the macroeconomicperformance, time-varying objectives and first liquidations of sovereignwealth funds 244Jean-François Carpantier and Wessel N. Vermeulen17 Fiscal policy, macroeconomic volatility and the role of institutionsunder resource abundance 263Leonor Coutinho and Stella Tsani18 Legal indicators as tools to assess the effectiveness of internationalrules related to the sustainable management of natural resources 293Emmanuella Doussis and Ilaria Espa19 Resource conservation and environmental ethics: a theoreticalframework supported by panel data 303Fabio ZagonariPART IV CHANGE AND UNCERTAINTY IN RESOURCE POLICIES20 Stranded assets and the financial system 322Andreas A. Papandreou21 Energy modeling for sustainable policymaking: state of the art andfuture challenges 335Stella Tsani and Mariia Kozlova22 Ambiguity in financing corporate mitigation policies 349Elettra Agliardi and Willem Spanjers23 Resource abundance and socio-economic shocks: COVID-19 pandemicand the State Oil Fund of Azerbaijan 366Ingilab Ahmadov24 Hydrocarbons during energy transition: from peak oil supply to peak oildemand and investment? Is energy security at risk? 376Cyril WiddershovenIndex

Edited by Stella Tsani, Assistant Professor, Department of Economics, University of Ioannina, Greece and Indra Overland, Research Professor, Norwegian Institute of International Affairs, Norway

‘This book contains excellent insights into the management of natural resources in the face of climate and sustainable development targets in many different parts of the world. A must for practitioners and researchers.’

• Contents:Preface xxii1 In quest of sustainable politics and economics of natural resources:a summary of contributions and future research directions 1Stella Tsani and Indra OverlandPART I RESOURCE SPECIFICS AND CONSIDERATIONS FORPOLICY MAKING2 Natural resources and economic development 15Wee Chian Koh3 Renewable energy transition, demand for metals and resource curse effects 30André Månberger4 Local and global aspects of coal in the ASEAN countries 45Haakon Fossum Sagbakken, Aidai Isataeva, Indra Overland, Aloysius DamarPranadi, Beni Suryadi and Roman Vakulchuk5 Policies and socio-economic tools for sustainable water management 64Stella Tsani, Stella Apostolaki and Phoebe Koundouri6 Inflated expectations and commodity prices: evidence from Kazakhstan 76Victoire Girard, Alma Kudebayeva and Gerhard ToewsPART II REGIONAL RESOURCE POLITICS AND IMPLICATIONSFOR GLOBAL POLICIES AND ECONOMIC DEVELOPMENT7 Energy transition, resources and climate change investment policy in the EU 95Matthias Busse, Oliver Dreute, Vladimir Isaila and Lúcio Vinhas de Souza8 Climate change policies and resource abundance: the case of Russia 107Igor Makarov9 Green policies and sustainable development in Saudi Arabia 123Stella Tsani and Sarah Najm10 How ambitious can the Israeli Green Deal be? 136Ruslana Rachel Palatnik, Ayelet Davidovitch, Volker Krey, Nathan Sussman,Keywan Riahi and Matthew Gidden11 Powering the uplands: controversies of developing hydropower inupstream Central and Mainland Southeast Asia 153Stefanos Xenarios, Murodbek Laldjebaev, Dietrich Schmidt-Vogt, JoostBuurman and Eduardo Araral12 Small-scale mining, rural resilience and the Sustainable DevelopmentGoals in Sub-Saharan Africa 187Gavin Hilson, Titus Sauerwein and Matondo Estrela Garcia Cardoso13 Natural resource policies for future sustainability in the African continent 207Roula Inglesi-LotzPART III INSTITUTIONS AND RESOURCE POLICIES14 Corruption, resource policies and economic growth 220Heli Arminen, Tiia-Lotta Pekkanen and Jorma Sappinen15 Local content policies and institutional capacity for sustainable resourcemanagement 232Yelena Kalyuzhnova16 Success and failures of sovereign wealth funds: on the macroeconomicperformance, time-varying objectives and first liquidations of sovereignwealth funds 244Jean-François Carpantier and Wessel N. Vermeulen17 Fiscal policy, macroeconomic volatility and the role of institutionsunder resource abundance 263Leonor Coutinho and Stella Tsani18 Legal indicators as tools to assess the effectiveness of internationalrules related to the sustainable management of natural resources 293Emmanuella Doussis and Ilaria Espa19 Resource conservation and environmental ethics: a theoreticalframework supported by panel data 303Fabio ZagonariPART IV CHANGE AND UNCERTAINTY IN RESOURCE POLICIES20 Stranded assets and the financial system 322Andreas A. Papandreou21 Energy modeling for sustainable policymaking: state of the art andfuture challenges 335Stella Tsani and Mariia Kozlova22 Ambiguity in financing corporate mitigation policies 349Elettra Agliardi and Willem Spanjers23 Resource abundance and socio-economic shocks: COVID-19 pandemicand the State Oil Fund of Azerbaijan 366Ingilab Ahmadov24 Hydrocarbons during energy transition: from peak oil supply to peak oildemand and investment? Is energy security at risk? 376Cyril WiddershovenIndex

Edited by Stella Tsani, Assistant Professor, Department of Economics, University of Ioannina, Greece and Indra Overland, Research Professor, Norwegian Institute of International Affairs, Norway

‘This book contains excellent insights into the management of natural resources in the face of climate and sustainable development targets in many different parts of the world. A must for practitioners and researchers.’

• Contents:Preface xxii1 In quest of sustainable politics and economics of natural resources:a summary of contributions and future research directions 1Stella Tsani and Indra OverlandPART I RESOURCE SPECIFICS AND CONSIDERATIONS FORPOLICY MAKING2 Natural resources and economic development 15Wee Chian Koh3 Renewable energy transition, demand for metals and resource curse effects 30André Månberger4 Local and global aspects of coal in the ASEAN countries 45Haakon Fossum Sagbakken, Aidai Isataeva, Indra Overland, Aloysius DamarPranadi, Beni Suryadi and Roman Vakulchuk5 Policies and socio-economic tools for sustainable water management 64Stella Tsani, Stella Apostolaki and Phoebe Koundouri6 Inflated expectations and commodity prices: evidence from Kazakhstan 76Victoire Girard, Alma Kudebayeva and Gerhard ToewsPART II REGIONAL RESOURCE POLITICS AND IMPLICATIONSFOR GLOBAL POLICIES AND ECONOMIC DEVELOPMENT7 Energy transition, resources and climate change investment policy in the EU 95Matthias Busse, Oliver Dreute, Vladimir Isaila and Lúcio Vinhas de Souza8 Climate change policies and resource abundance: the case of Russia 107Igor Makarov9 Green policies and sustainable development in Saudi Arabia 123Stella Tsani and Sarah Najm10 How ambitious can the Israeli Green Deal be? 136Ruslana Rachel Palatnik, Ayelet Davidovitch, Volker Krey, Nathan Sussman,Keywan Riahi and Matthew Gidden11 Powering the uplands: controversies of developing hydropower inupstream Central and Mainland Southeast Asia 153Stefanos Xenarios, Murodbek Laldjebaev, Dietrich Schmidt-Vogt, JoostBuurman and Eduardo Araral12 Small-scale mining, rural resilience and the Sustainable DevelopmentGoals in Sub-Saharan Africa 187Gavin Hilson, Titus Sauerwein and Matondo Estrela Garcia Cardoso13 Natural resource policies for future sustainability in the African continent 207Roula Inglesi-LotzPART III INSTITUTIONS AND RESOURCE POLICIES14 Corruption, resource policies and economic growth 220Heli Arminen, Tiia-Lotta Pekkanen and Jorma Sappinen15 Local content policies and institutional capacity for sustainable resourcemanagement 232Yelena Kalyuzhnova16 Success and failures of sovereign wealth funds: on the macroeconomicperformance, time-varying objectives and first liquidations of sovereignwealth funds 244Jean-François Carpantier and Wessel N. Vermeulen17 Fiscal policy, macroeconomic volatility and the role of institutionsunder resource abundance 263Leonor Coutinho and Stella Tsani18 Legal indicators as tools to assess the effectiveness of internationalrules related to the sustainable management of natural resources 293Emmanuella Doussis and Ilaria Espa19 Resource conservation and environmental ethics: a theoreticalframework supported by panel data 303Fabio ZagonariPART IV CHANGE AND UNCERTAINTY IN RESOURCE POLICIES20 Stranded assets and the financial system 322Andreas A. Papandreou21 Energy modeling for sustainable policymaking: state of the art andfuture challenges 335Stella Tsani and Mariia Kozlova22 Ambiguity in financing corporate mitigation policies 349Elettra Agliardi and Willem Spanjers23 Resource abundance and socio-economic shocks: COVID-19 pandemicand the State Oil Fund of Azerbaijan 366Ingilab Ahmadov24 Hydrocarbons during energy transition: from peak oil supply to peak oildemand and investment? Is energy security at risk? 376Cyril WiddershovenIndex