Paradox of Plenty Oil Booms and Petro-States
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Description: The Paradox of Plenty explains why, in the midst of two massive oil booms in the 1970s, oil-exporting governments as different as Venezuela, Iran, Nigeria, Algeria, and Indonesia chose common development paths and suffered similarly disappointing outcomes. Meticulously documented and theoretically innovative, this book illuminates the manifold factors--economic, political, and social--that determine the nature of the oil state, from the coherence of public bureaucracies, to the degree of centralization, to patterns of policy-making. Karl contends that oil countries, while seemingly disparate, are characterized by similar social classes and patterns of collective action. In these countries, dependence on petroleum leads to disproportionate fiscal reliance on petrodollars and public spending, at the expense of statecraft. Oil booms, which create the illusion of prosperity and development, actually destabilize regimes by reinforcing oil-based interests and further weakening state capacity. Karl's incisive investigation unites structural and choice-based approaches by illuminating how decisions of policymakers are embedded in institutions interacting with domestic and international markets. This approach--which Karl dubs "structured contingency"--uses a state's leading sector as the starting point for identifying a range of decision-making choices, and ends by examining the dynamics of the state itself.
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All the information you need in one place! Each Study Brief is a summary of one specific subject; facts, figures, and explanations to help you learn faster.
List price: $31.95
Copyright year: 1997
Publisher: University of California Press
Publication date: 10/10/1997
Size: 6.25" wide x 9.25" long x 1.00" tall
|List of Figures and Tables|
|The Modern Myth of King Midas: Structure, Choice, and the Development Trajectory of States|
|Spanish Gold to Black Gold: Commodity Booms Then and Now|
|The Special Dilemma of the Petro-State|
|The Making of a Petro-State|
|Oil and Regime Change: The Institutions of Pacted Democracy|
|The Instant Impact of a Bonanza|
|The Politics of Rent Seeking|
|From Boom to Bust: The Crisis of Venezuelan Democracy|
|Petro-States in Comparative Perspective|
|Commodities, Booms, and States Revisited|
|Statistical Appendix Citations|