THE OIL CURSE
From Amazon:
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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