Journal of Business & Economic Policy

Management of Revenue for Development and the Role of Transformational Leadership: A Case Study
Dr. Evangelia Fragouli, Sheila Balado, George Ourolidis

Abstract
As a major source of export earnings and employment, oil and gas plays a major role in the socio-economic development of several countries. The discovery of oil in commercial quantities brings considerable hope for development. However, underlying the excitement over the prospects of development and opportunity is the fear of the resource curse as observed in some jurisdictions. While a robust revenue management framework is essential, leadership plays a crucial role in the effective management of the financial resources of any enterprise. It is important for emerging oil economies to find appropriate leadership styles that will enable them to effectively manage oil revenues for development and avoid the resource curse. This study focuses on investigating whether transformational leadership can assist in the effective management of petroleum revenues in Ghana for development. The research used primary data through the distribution of a questionnaire, whereas, the findings indicate that oil revenues are essential for development, transformational leadership enables effective management of oil revenues and specific leadership attributes are preferred more than other ones.

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