The Paradox of Plenty: Oil Booms and Petro-States / Edition 1

The Paradox of Plenty: Oil Booms and Petro-States / Edition 1

by Terry Lynn Karl
     
 

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ISBN-10: 0520207726

ISBN-13: 9780520207721

Pub. Date: 10/10/1997

Publisher: University of California Press

The Paradox of Plenty explains why, in the midst of two massive oil booms in the 1970s, oil-exporting governments as different as Venezuela, Iran, Nigeria, Algeria, and Indonesia chose common development paths and suffered similarly disappointing outcomes. Meticulously documented and theoretically innovative, this book illuminates the manifold factors‹economic,

Overview

The Paradox of Plenty explains why, in the midst of two massive oil booms in the 1970s, oil-exporting governments as different as Venezuela, Iran, Nigeria, Algeria, and Indonesia chose common development paths and suffered similarly disappointing outcomes. Meticulously documented and theoretically innovative, this book illuminates the manifold factors‹economic, political, and social‹that determine the nature of the oil state, from the coherence of public bureaucracies, to the degree of centralization, to patterns of policy-making. Karl conts that oil countries, while seemingly disparate, are characterized by similar social classes and patterns of collective action. In these countries, depence on petroleum leads to disproportionate fiscal reliance on petrodollars and public sping, at the expense of statecraft. Oil booms, which create the illusion of prosperity and development, actually destabilize regimes by reinforcing oil-based interests and further weakening state capacity. Karl's incisive investigation unites structural and choice-based approaches by illuminating how decisions of policymakers are embedded in institutions interacting with domestic and international markets. This approach‹which Karl dubs "structured contingency"‹uses a state's leading sector as the starting point for identifying a range of decision-making choices, and s by examining the dynamics of the state itself.

Author Biography: Terry Lynn Karl is Associate Professor of Political Science and Director of the Center for Latin American Studies at Stanford University.

Product Details

ISBN-13:
9780520207721
Publisher:
University of California Press
Publication date:
10/10/1997
Series:
Studies in International Political Economy Series
Edition description:
New Edition
Pages:
380
Product dimensions:
6.00(w) x 9.00(h) x 1.00(d)

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