Pup_ross_the oil curse_ch01indd 2 achorn international 10/18/2011 05:15pm paradoxical wealth of nations • understanding the resource curse is important for countries that export petroleum, but it also matters for countries that import it to fuel their economies. Oil provides rulers with a source of unaccountable power, which explains the oil curse yet there is a solution: it should no longer be legal for states to buy oil from unaccountable actors who control oil wells by force.
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 is the best and most thorough examination that we have of the causes and consequences of oil wealth for poorly governed states oil revenues are massive, opaque, and volatile they destroy the relationship between a state and its own citizens. 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. Black countries include iraq, libya, nigeria, sudan, and south sudan these countries demonstrate that the oil curse is a curse for the oil industry as well as for the people living there black exemplar: nigeria nigeria is a cautionary tale its history illustrates the instability that can intensify over time.
Curse they must help solve it this book takes a comprehensive look at the political and economic consequences of petroleum wealth, especially in developing countries 6. The oil curse is a concept that economists, political scientists and sociologists use to explain the deleterious economic affects caused by overreliance on revenue from a single natural resource. Institutions and the resource curse, by halvor mehlum, karl moene and ragnar torvik, the economic journal, january 2006 'political violence @ a glance' symposium: oil and international politics vuong, quan hoang napier, nancy k (2014) resource curse or destructive creation in transition: evidence from vietnam's corporate sector.
They identified the oil curse as part of the explanation the arab spring was the greatest challenge to middle eastern authoritarianism, but you'll note that the none of the super oil-wealthy gulf monarchies (saudi arabia, kuwait, qatar, the united arab emirates, and oman) were toppled.
The resource curse, also known as the paradox of plenty, refers to the paradox that countries with an abundance of natural resources (like fossil fuels and certain minerals), tend to have less economic growth, less democracy, and worse development outcomes than countries with fewer natural resources there are many theories and much academic debate about the reasons for and exceptions to these adverse outcomes. According to the literature on the resource curse, oil export revenues tend to hinder rather than promote economic growth confir this is a very well written and researched book about the comparative political economy of oil-exporting countries.
For the past 40 years, the greatest threats to the west have emerged from oil-exporting states oil provides rulers with a source of unaccountable power, which explains the oil curse yet there is a solution: it should no longer be legal for states to buy oil from unaccountable actors who control oil wells by force. In this regard, michael ross’ book, the oil curse: how petroleum wealth shapes the development of nations (princeton university press, 2012) is an extremely timely work it not only responds to these critiques but also provides a consistent set of explanations about oil and its effects on authoritarianism, patriarchy, inter-state and civil wars, and economic underdevelopment.
4 | the oil curse: a remedial role for the oil industry dutch disease is almost unavoidable in countries whose primary export is oil as foreign funds flow in to pay for oil, the country’s real exchange rate begins to appreciate the country’s exports become more expensive and imports cheaper. The oil curse is a landmark book that brings together explanations about the impacts of oil on various key issues from authoritarianism to patriarchy, from conflict to development it combines qualitative and quantitative methods in a truly interdisciplinary tour de force of political, economic, and social analyses. Many other oil rich nations have found large oil discoveries and strong production to be a curse the nation quickly becomes dependent on abundant oil revenues, and government corruption and chaos follow.