Private Governance as a Solution to the Resource Curse

Abstract

This chapter concludes the analysis and introduces a future research agenda. It demonstrates that firms operating in the gold mining sector contribute to industry regulation, and in so doing share sovereignty with the state. While many private governance initiatives have been developed to address outcomes associated with the resource curse, the three case studies remain ‘resource cursed’. While firm-led regulation has enhanced overall governance of the sector, many local issues remain un-addressed by private governance initiatives, suggesting there remains a role for the state in governing Africa’s extractive industries. This chapter concludes by introducing a theoretical model of firm behaviour, using the findings of the content analysis and interviews to demonstrate that large firms, with significant private authority, are co-governors of their industry.