Natural resource rents and elite bargains in Africa: Exploring avenues for future research

This article explores the recent debate over the quality of Africa's growth episode of the past decade, specifically insofar as it pertains to the pitfalls of commodity-dependent growth and the hypothesised ‘resource curse’. In addition, the article focuses on why political and economic institutions are important, and why they are indicators for the likely development impacts of Africa's evident mineral and hydrocarbon wealth. Third, it suggests a useful theoretical framework for understanding these indicators, especially with regard to the differing constraints under which foreign investors operate and interact with host countries. Developing on the latter points, the article looks at the nature of Chinese foreign investment in Africa's extractive industries. Finally, the article suggests an agenda for future research that could better inform development policy for the purpose of promoting high-quality growth in Africa.