"Help poor states to seize the fruits of the boom"

In an op-ed piece in Financial Times 10 April, Paul Collier and Michael Spence write:

Any international standards for resource extraction must be voluntary. Fortunately, in this area voluntary standards have a good record. The Extractive Industries Transparency Initiative, launched in 2002 as a standard for revenue reporting, has a wide take-up. Standards provide rallying points for reformers and a benchmark for performance and promote competition between governments.

The full article is available on FT.com (subscribtion needed).