Introduction
There is a formidable body of literature devoted to economic theorizing on the efficacy of local content requirements (LCRs) policies generally, and in developing countries specifically. Notably, there is perhaps an even more formidable body of empirical studies examining the operations of LCRs in the oil and gas sector over the past four decades. I have already devoted two columns to some aspects of this literature, seeking to draw lessons that Guyana can learn from it as she prepares for the operationalization of the oil and gas sector, post- 2020. This is the reason why I had indicated last week that, today’s and next week’s column, will be devoted to considering the main findings of the two studies: United Nations Conference on Trade and Development (UNCTAD) and the World Bank, which I have