Chapter 4 | Page 149 investment in health and education programmes.40 While the extractive industries provide a significant source of government revenue in many developing countries, in many cases the revenue thus generated is below the potential.41 Some countries have managed natural resource revenue through special arrangements for the allocation and use of resources, resource funds, and special budgetary and treasury procedures for the use of natural resource revenue, separate investment bodies, separate oversight bodies, and special legal frameworks.42 For example, Timor Leste and São Tomé and Príncipe use the maximum sustainable amount from oil savings in the fiscal year and leave savings for an amount equal to the real value for later fiscal years.43 Such earmarking of revenue resources for investment purposes has proved successful in countries such as Norway and Chile.44 Revenue from public sector enterprises45 is also an important source of finance for many States. With increased privatisation of State enterprises, revenue from such entities has declined substantially for some governments although in many others, fully- or partially-owned State enterprises provide significant revenue for the government.46 This is particularly the case in economies where State enterprises are involved in substantial business 40 Ortiz, Chai and Cummins, above n 9. 41 See for example, Martin Stürmer, 'Let the good times roll? Raising tax revenues from the extractive sector in sub-Saharan Africa during the commodity price boom' (Discussion Paper, Deutsches Institut für Entwicklungspolitik), <http://www.u4.no/recommendedreading/let-the-good-times-roll-raising-tax-revenues-from-the-extractive-sector-in-subsaharan-africa-during-the-commodity-price-boom/downloadasset/692>. 42 Teresa Dabán and Jean-Luc Hélis, 'A Public Financial Management Framework for Resource-Producing Countries' (IMF Working Paper WP/10/72, International Monetary Fund, March 2010), <http://www.imf.org/external/pubs/ft/wp/2010/wp1072.pdf>. 43 Ibid., 16. 44 Ibid. 45 These entities are known as State Owned Enterprises (SOEs), Government Owned Enterprises (GOEs), Government Business Enterprises (GBEs), Government Owned Corporations (GOCs), and by many other names. 46 Isabel Ortiz, Matthew Cummins and Kalaivani Karunanethy, 'Fiscal Space for Social Protection Options to Expand Social Investments in 187 Countries' (ESS Working Paper No. 48, International Labour Organization), <http://www.social-protection.org/gimi/gess /RessourcePDF.action?ressource.ressourceId=51537>.