Global Regimes of Restraint

As stated above, transnational norm entrepreneurs responded to the escalation of civil conflicts in Africa in the late 1990s by encouraging public and private actors in the extractive industries to strengthen the transparency-accountability relationships around the governance of natural resources. The PWYP and EITI are the most well-known initiatives that sought a plethora of best practices to ensure that income from natural resources would benefit local development. By the same token, the KPCS and Dodd-Frank legislation are interventions that tried to enhance transparency and corporate accountability with regard to trade in minerals in conflict countries. As regimes of restraint, all these initiatives emanated from the pessimistic perspectives that underlay the resource curse and reflected yearnings for institutional reforms in failed and conflict-afflicted states.