The Oil Resources Of Timor-Leste: Curse Or Blessing?
AbstractTimor-Leste is among the youngest nations in the world. It started its independence under difficult circumstances: poverty is widespread, education is poor, the industrial sector is non-existent, and political turbulence is on the rise. On the positive side, future oil revenues are predicted to be substantial, which could potentially be of large help in Timor-Leste’s strive for development. This paper examines critically the possibility for Timor-Leste to use oil revenues to achieve economic development. It describes how difficult it is to estimate the future revenues because of volatile prices, territorial disputes, and insufficient seismological mapping. It continues with a discussion of the “resource curse”: the difficulty of combining natural resources with economic development. Moreover, the particular challenges for Timor Leste’s development are dealt with at some length, as are possible ways to avoid the resource curse.
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Bibliographic InfoPaper provided by The European Institute of Japanese Studies in its series EIJS Working Paper Series with number 229.
Length: 27 pages
Date of creation: 01 Oct 2006
Date of revision:
Publication status: Published as Lundahl, Mats and Fredrik Sjöholm, 'THE OIL RESOURCES OF TIMOR-LESTE: CURSE OR BLESSING?' in The Pacific Review, 2008, pages 67-86.
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Postal: The European Institute of Japanese Studies, Stockholm School of Economics, P.O. Box 6501, 113 83 Stockholm, Sweden
Web page: http://www.hhs.se/eijs/
More information through EDIRC
Timor-Leste; Oil; Resource Curse; Economic Development;
Find related papers by JEL classification:
- L71 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - Mining, Extraction, and Refining: Hydrocarbon Fuels
- O13 - Economic Development, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
- O53 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East
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