The Oil Curse: How Petroleum Wealth Shapes the Development of Nationsby Michael L. Ross
Pub. Date: 03/04/2012
Publisher: Princeton University Press
Countries that are rich in petroleum have less democracy, less economic stability, and more frequent civil wars than countries without oil. What explains this oil curse? And can it be fixed? In this groundbreaking analysis, Michael L. Ross looks at how developing nations are shaped by their mineral wealth--and how they can turn oil from a curse into a blessing.… See more details below
Countries that are rich in petroleum have less democracy, less economic stability, and more frequent civil wars than countries without oil. What explains this oil curse? And can it be fixed? In this groundbreaking analysis, Michael L. Ross looks at how developing nations are shaped by their mineral wealth--and how they can turn oil from a curse into a blessing.
Ross traces the oil curse to the upheaval of the 1970s, when oil prices soared and governments across the developing world seized control of their countries' oil industries. Before nationalization, the oil-rich countries looked much like the rest of the world; today, they are 50 percent more likely to be ruled by autocrats--and twice as likely to descend into civil war--than countries without oil.
The Oil Curse shows why oil wealth typically creates less economic growth than it should; why it produces jobs for men but not women; and why it creates more problems in poor states than in rich ones. It also warns that the global thirst for petroleum is causing companies to drill in increasingly poor nations, which could further spread the oil curse.
This landmark book explains why good geology often leads to bad governance, and how this can be changed.
- Princeton University Press
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- Product dimensions:
- 6.10(w) x 9.30(h) x 1.20(d)
Table of ContentsList of Illustrations ix
List of Tables xi
Country Abbreviations xix
Chapter One: The Paradoxical Wealth of Nations 1
Appendix 1.1 A Note on Methods and Measurements 14
Chapter Two: The Trouble with Oil Revenues 27
Chapter Three: More Petroleum, Less Democracy 63
Appendix 3.1 A Statistical Analysis of Oil and Democracy 93
Chapter Four: Petroleum Perpetuates Patriarchy 111
Appendix 4.1 A Statistical Analysis of Oil and the Status of Women 132
Chapter Five: Oil-Based Violence 145
Appendix 5.1 A Statistical Analysis of Oil and Civil Conflict 178
Chapter Six: Oil, Economic Growth, and Political Institutions 189
Chapter Seven: Good News and Bad News about Oil 223
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