The Oil Curse: How Petroleum Wealth Shapes the Development of Nations

The Oil Curse: How Petroleum Wealth Shapes the Development of Nations

by Michael L. Ross
     
 

ISBN-10: 0691145458

ISBN-13: 9780691145457

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.

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Overview

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.

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Product Details

ISBN-13:
9780691145457
Publisher:
Princeton University Press
Publication date:
03/04/2012
Pages:
296
Product dimensions:
6.10(w) x 9.30(h) x 1.20(d)

Table of Contents

List of Illustrations ix

List of Tables xi

Preface xiii

Abbreviations xvii

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

References 255

Index 281

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