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Oil, Debt and Development: OPEC in the Third World

Author

Listed:
  • Paul Hallwood

    (University of Connecticut)

  • Stuart Sinclair

    (Lloyds Bank)

Abstract

Our original monograph, Oil, Debt and Development: OPEC in the Third World was re-issued in 2016. As there was not enough time to write a new Preface reflecting how our ideas had stood the test of time, we offer this short paper touching on some of the book’s main themes, in particular, the nature of OPEC as a cartel, the terms of trade between oil prices and developing country non-oil primary commodity export prices, the generosity of Arab foreign aid, oil prices and oil importing countries’ foreign debts, and the importance of migrant worker remittances from Arab OPEC host countries to the main sending countries.

Suggested Citation

  • Paul Hallwood & Stuart Sinclair, 2017. "Oil, Debt and Development: OPEC in the Third World," Working papers 2017-16, University of Connecticut, Department of Economics.
  • Handle: RePEc:uct:uconnp:2017-16
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    File URL: http://web2.uconn.edu/economics/working/2017-16.pdf
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    References listed on IDEAS

    as
    1. Eric Neumayer, 2003. "What Factors Determine the Allocation of Aid by Arab Countries and Multilateral Agencies?," Journal of Development Studies, Taylor & Francis Journals, vol. 39(4), pages 134-147.
    2. Hernandez , Diego & Vadlamannati , Krishna Chaitanya, 2014. "Politics of Religiously Motivated Lending: An Empirical Analysis of Aid Allocation by the Islamic Development Bank," Working Papers 0570, University of Heidelberg, Department of Economics.
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    Cited by:

    1. Eric Werker & Faisal Z. Ahmed & Charles Cohen, 2009. "How Is Foreign Aid Spent? Evidence from a Natural Experiment," American Economic Journal: Macroeconomics, American Economic Association, vol. 1(2), pages 225-244, July.
    2. Barakat, Sultan & Zyck, Steven A., 2010. "Gulf state assistance to conflict-affected environments," LSE Research Online Documents on Economics 55240, London School of Economics and Political Science, LSE Library.
    3. Hallwood, Paul & Sinclair, Stuart, 1981. "OPEC and the non-oil developing countries in the 1970s," MPRA Paper 24463, University Library of Munich, Germany.
    4. Faizal Z. Ahmed & Eric Werker, 2012. "Unobserved State Fragility and the Political Transfer Problem," Harvard Business School Working Papers 13-009, Harvard Business School.

    More about this item

    Keywords

    OPEC; Arab aid; oil exports; oil shock;

    JEL classification:

    • F5 - International Economics - - International Relations, National Security, and International Political Economy

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