In the comics, the country sets aside a generous portion of vibranium revenue to create a social safety net. In addition, Norway spends about 4 percent of the fund on public projects. Outside of Africa, oil-rich Norway has been praised for its management of natural resources, largely based on the investment in its sovereign wealth fund. Third, it invested diamond revenues for the use of future generations-using a sovereign wealth fund called the Pula Fund. Second, the country established a fiscal rule that separates expenditures from revenues and thus shields expenditures from fluctuations in diamond prices. First, Botswana pursued economic diversification-although with mixed success. For instance, Botswana-one of the world’s largest producers of diamonds-has not fell victim to the resource curse and has done so by implementing a three-pronged method, as highlighted in a 2012 African Development Bank brief. Indeed, in the real world, such a fate is not inevitable in every resource-rich African country. While none of the countries cited above mirror Wakanda’s isolationism, the fictional country shares many similarities with Norway and Botswana. In addition, the high dependence on oil exports in certain African countries has led to misaligned exchange rates, the decline of non-resource sectors, political authoritarianism, conflict, and economic inequality.Įdited by Haroon Bhorat and Finn Tarp 2016 For example, in 2015, mineral exports made up more than 90 percent of exports in Equatorial Guinea, Nigeria, and Angola. In contrast, resource-rich African countries depend heavily on their exports of natural resources. Because of its self-isolation, Wakanda appears to have an economic model where it does not trade its natural resource with the rest of the world: It lives in autarky and invests heavily in technology. Moreover, in the Marvel Universe vibranium is key to helping Wakanda hide from the rest of the world in order to avoid the appropriation of the valuable resource. In addition, Wakanda’s approach to utilizing vibranium creates considerable and widely shared benefits to society. Notably, the country has wisely made use of the metal to enhance technology and economic development for its people. Indeed, the precious metal has been the key player in making Wakanda the most technologically advanced nation on the planet. Unlike in most African countries, though, Wakanda’s resources have been exceptionally well managed. The metal absorbs any kinetic energy directed at it, rendering it nearly indestructible-in the comics, Black Panther’s armored suit and Captain America’s shield are both made up of vibranium. Long ago, a meteor landed in Wakanda, creating a valuable non-renewable natural resource: vibranium. Notably, like Angola, Zambia, Nigeria, and many, many other African countries, Wakanda is rich in natural resources. Wakanda’s vibranium: Strategies for natural resource management
Adapted from the Marvel Comic book, the movie follows newly crowned Prince T’Challa, played by Chadwick Boseman, as he navigates the challenges that come with his newly acquired responsibilities and the incoming challenges to the stability of his kingdom, Wakanda, a fictional landlocked East African country bordering Ethiopia, South Sudan, Uganda, and Kenya.ĭespite its fictional nature, Wakanda shares key similarities with many African countries African policymakers and their partners can draw lessons about good resource governance and economic integration from the movie.