The Oil Curse
How Petroleum Wealth Shapes the Development of Nations
1st Edition
Published on 6. May 2019
312 pages
978-1-4008-4192-9 (ISBN)
Description
Explaining-and solving-the oil curse in the developing world
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.
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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Person
Michael L. Ross is professor of political science and director of the Center for Southeast Asian Studies at the University of California, Los Angeles. He has published widely on the politics of resource-rich countries and served on advisory boards for the World Bank, the Revenue Watch Institute, and the Natural Resource Charter. His work has appeared in Foreign Affairs, Foreign Policy, and the New York Times, and has been featured in the Washington Post, Newsweek, and many other publications. In 2009, he received the Heinz Eulau Award from the American Political Science Association.
Content
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
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
