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Revisiting the Resource Curse: Natural Disasters, the Price of Oil, and Democracy

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  • Ramsay, Kristopher W.

Abstract

Fluctuations in the price of oil and the contemporaneous political changes in oil-producing countries have raised an important question about the link between oil rents, political institutions, and civil liberties. This article presents a simple model of the relationship between resource income and political freedom and, using an instrumental variables approach, estimates the causal effect of shocks to oil revenues on levels of democracy. Using a new data set, multiple measures of democracy, and various specifications, I find that the effect of oil price shocks is larger than might be expected and on the order of the effects found from changes in gross domestic product.

Suggested Citation

  • Ramsay, Kristopher W., 2011. "Revisiting the Resource Curse: Natural Disasters, the Price of Oil, and Democracy," International Organization, Cambridge University Press, vol. 65(03), pages 507-529, July.
  • Handle: RePEc:cup:intorg:v:65:y:2011:i:03:p:507-529_00
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    Blog mentions

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    1. Sam Watson’s journal round-up for 27th May 2019
      by Sam Watson in The Academic Health Economists' Blog on 2019-05-27 12:14:36

    Citations

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    Cited by:

    1. Mehrdad Vahabi, 2017. "A critical survey of the resource curse literature through the appropriability lens," CEPN Working Papers 2017-14, Centre d'Economie de l'Université de Paris Nord.
    2. Cullen S. Hendrix, 2014. "Oil Prices and Interstate Conflict Behavior," Working Paper Series WP14-3, Peterson Institute for International Economics.
    3. Bakaki Zorzeta, 2016. "Fossil Fuel Rents: Who Initiates International Crises?," Peace Economics, Peace Science, and Public Policy, De Gruyter, vol. 22(2), pages 173-190, April.
    4. repec:eee:phsmap:v:501:y:2018:i:c:p:98-110 is not listed on IDEAS
    5. Prichard, Wilson & Salardi, Paola & Segal, Paul, 2018. "Taxation, non-tax revenue and democracy: New evidence using new cross-country data," World Development, Elsevier, vol. 109(C), pages 295-312.
    6. Wigley, Simon, 2017. "The resource curse and child mortality, 1961–2011," Social Science & Medicine, Elsevier, vol. 176(C), pages 142-148.
    7. repec:eee:appene:v:220:y:2018:i:c:p:480-495 is not listed on IDEAS
    8. Carreri, Maria & Dube, Oeindrila, 2016. "Do Natural Resources Influence Who Comes to Power, and How?," CEPR Discussion Papers 11136, C.E.P.R. Discussion Papers.
    9. Morten Endrikat, 2017. "Natural resource rents, autocracy and the composition of government spending," MAGKS Papers on Economics 201727, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    10. Nouf Alsharif & Sambit Bhattacharyya & Maurizio Intartaglia, 2016. "Economic Diversification in Resource Rich Countries: Uncovering the State of Knowledge," Working Paper Series 9816, Department of Economics, University of Sussex.
    11. Qingyuan Du & Shang-Jin Wei & Peichu Xie, 2013. "Roads and the Real Exchange Rate," NBER Working Papers 19291, National Bureau of Economic Research, Inc.
    12. Rehman, Faiz Ur & Vanin, Paolo, 2017. "Terrorism risk and democratic preferences in Pakistan," Journal of Development Economics, Elsevier, vol. 124(C), pages 95-106.
    13. Nouf Alsharif & Sambit Bhattacharyya & Maurizio Intartaglia, 2016. "Economic Diversification in Resource Rich Countries: Uncovering the State of Knowledge," Working Paper Series 09816, Department of Economics, University of Sussex Business School.
    14. repec:pal:compes:v:59:y:2017:i:2:d:10.1057_s41294-017-0021-9 is not listed on IDEAS
    15. repec:kap:pubcho:v:175:y:2018:i:3:d:10.1007_s11127-018-0533-5 is not listed on IDEAS

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