The Oil Curse by Michael Ross
How Petroleum Wealth Shapes the Development of Nations
Using cross-country and subnational evidence, the book shows that dependence on oil revenues tends to undermine long-term development: resource rents concentrate power, reduce taxation and accountability, encourage corruption and repression, increase the risk of civil war and economic volatility, and shift public spending away from broad-based human capital investments. It traces the political and economic mechanisms—rent-seeking, weakened institutions, and Dutch disease—that link oil wealth to poor governance and stagnating social outcomes, and concludes with practical reforms such as stronger transparency and accountability, better fiscal institutions (including sovereign wealth funds and taxing reforms), economic diversification, and greater local empowerment to mitigate the so-called resource curse.
- Published
- 2012
- Nationality
- American
- Length
- Unknown
- Pages
- Unknown
- Original Language
- English
- Avg User Rating
- No ratings yet
- Alternate Titles
- None
This book is not currently on any lists.