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

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 Analysis, The Author Looks At How Developing Nations Are Shaped By Their Mineral Wealth, And How They Can Turn Oil From A Curse Into A Blessing. He 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. This Book 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. And It Explains Why Good Geology Often Leads To Bad Governance, And How This Can Be Changed. Foreign Direct Investment In Extractive Industries, 2007 -- The Number And Income Of Oil-producing States, 1960n-2006 -- Incomes Of New Oil Producers, 1857n-2015 -- Size Of The Nigerian Government, 1960n-84 -- Oil And The Size Of Government -- Government Size In Selected Oil And Non-oil States -- Petroleum In The Economy And Government, 2007 -- Oil Prices And Oil Rents In Selected Countries, 2008 -- Government Expropriation Of Oil Companies, 1960n-93 -- Capital-to-labor Ratios Of Major Industries -- Price Of A Barrel Of Oil, 1861n-2009 -- Us Petroleum Production And Consumption, 1947n-2007 -- Proved Oil Reserves, 2005 -- Government Revenues In Iran And Egypt, 1970n-2009 -- Number Of Democracies And Autocracies, 1960n-2008 -- Oil And Transitions To Democracy, 1960n-2008 -- Number Of Oil-producing Democracies And Autocracies, 1960n-2008 -- Democracy Levels Over Time, 1960n-2004 -- Government Spending-to-revenue Ratios In Autocracies, 1970n-2008 --^ Oil Income And Gasoline Prices, 2006 -- Oil And Budget Transparency In Autocracies, 2008 -- Oil And Democracy In The Ussr And Russia, 1960n-2007 -- How Oil Production Can Affect The Status Of Women -- Women In The Labor Force By Region, 1993n-2002 -- Women In Parliament By Region, 2002 -- Oil And Female Labor Force Participation In The Middle East, 1993n-2002 -- Oil And Female Suffrage In The Middle East -- Oil And Female Parliamentary Seats In The Middle East, 2002 -- Wages For Textile Workers In Tunisia And Algeria, 1987n-91 -- Oil And Civil Wars In Low- And Middle-income Countries, 1960n-2006 -- Fraction Of Oil And Non-oil Countries With New Conflicts, 1965n-2006 -- Number Of Oil And Non-oil States With Ongoing Conflicts, 1960n-2006 -- Fraction Of Ongoing Conflicts In States With Oil, 1960n-2006 -- Annual Conflict Rates, Oil And Non-oil Countries -- Annual Conflict Rates By Petroleum Location (%) -- Incomes Of The Leading Oil Producers, 1950n-2006 --^ Incomes Of The Leading Oil Producers And Oil Prices, 1950n-2006 -- Changes In Income Per Capita, 1974n-89 -- Oil Production In Oman And World Oil Prices, 1960n-2006 -- Oil Production In Malaysia And World Oil Prices, 1960n-2006 -- Changes In Child Mortality, 1970n-2003 -- Annual Growth In Total Gdp, 1960n-2006 -- Changes In Control Of Corruption, 1996n-2006 -- Incomes And Perceived Government Effectiveness, 2005 -- Oil And Democracy In The Middle East, 1993n-2002 -- Oil And The Gender Rights In The Middle East, 2004. Michael L. Ross. Includes Bibliographical References And Index. 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.