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Oil and property rights

Author

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  • de Soysa, Indra
  • Krieger, Tim
  • Meierrieks, Daniel

Abstract

We investigate the role of oil in economic institutions for a sample of 150 countries between 1960 and 2014. We find that higher per capita values of oil production result in weaker economic institutions in the form of lower levels of private property rights protection. This result is robust to alternative instrumental-variable approaches as well as different operationalizations of oil income and production as well as economic institutions. We argue that our finding is indicative of oil interest groups using their economic power to achieve weaker property rights to maintain their economic-political position in society. We also provide evidence that oil induces clientelism, corruption and the repression of dissenting political voices. We argue that this finding is consistent with the idea that oil interest groups translate their outsized economic into political power through these transmission channels to achieve lower levels of property rights protection.

Suggested Citation

  • de Soysa, Indra & Krieger, Tim & Meierrieks, Daniel, 2022. "Oil and property rights," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 79, pages 1-13.
    • Handle: RePEc:zbw:espost:267172
    DOI: 10.1016/j.resourpol.2022.103069
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    Cited by:

    1. Awoa Awoa, Paul & Ngouma Yana, Alexandre Ghislain & Okah Efogo, Françoise & Atangana Ondoa, Henri, 2024. "Africa's resource curse: The key role of property rights," Resources Policy, Elsevier, vol. 91(C).
    2. Le Clech, Néstor A., 2024. "Policy market orientation, property rights, and corruption effects on the rent of non-renewable resources in Latin America and the Caribbean," Resources Policy, Elsevier, vol. 91(C).
    3. Ewolo Bitoto, Fabrice & Ngounou, Augustin Borice & Pondie Messie, Thierry & Wayisovia Juakaly, Emmanuel & Mefire Njikam, Clément Nicodème, 2024. "When energy dispels curse: Linking natural resources, energy and inclusive growth in Africa," Resources Policy, Elsevier, vol. 99(C).
    4. Ingrid Holthe Helmersen & Indra de Soysa, 2024. "Which freedoms benefit the poor? A two‐horse race between economic and political freedoms on health‐adjusted life expectancy and child mortality, 1990–2020," Journal of International Development, John Wiley & Sons, Ltd., vol. 36(7), pages 2676-2704, October.
    5. Tadadjeu, Sosson & Njangang, Henri & Woldemichael, Andinet, 2023. "Are resource-rich countries less responsive to global warming? Oil wealth and climate change policy," Energy Policy, Elsevier, vol. 182(C).
    6. Nouf Alsharif & Sambit Bhattacharyya, 2024. "Oil discovery, boom‐bust cycle and manufacturing slowdown: Evidence from a large industry level dataset," Review of Development Economics, Wiley Blackwell, vol. 28(2), pages 406-431, May.

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