The Oil Nouveau-Riche and Arms Imports
Countries that strike it rich when exploring for oil and gas often fail to see growth materialize. This paper shows that one way things can get messy is via squandering new wealth, based on future resource revenues, on arms imports. In the five years following a giant oil or gas discovery, arms impo...
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| Format: | Elektronisch E-Book |
| Sprache: | English |
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Washington, D.C
The World Bank
2020
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| Schriftenreihe: | World Bank E-Library Archive
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| 520 | |a Countries that strike it rich when exploring for oil and gas often fail to see growth materialize. This paper shows that one way things can get messy is via squandering new wealth, based on future resource revenues, on arms imports. In the five years following a giant oil or gas discovery, arms imports increase by 25 percent. The effect is even larger, at 51 percent, when the price of oil is as high as USD 80 per barrel. These estimates can be interpreted causally as the timing of giant oil discoveries is unpredictable due to the uncertain nature of exploration | ||
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| spellingShingle | Vezina, Pierre-Louis The Oil Nouveau-Riche and Arms Imports |
| title | The Oil Nouveau-Riche and Arms Imports |
| title_auth | The Oil Nouveau-Riche and Arms Imports |
| title_exact_search | The Oil Nouveau-Riche and Arms Imports |
| title_full | The Oil Nouveau-Riche and Arms Imports Pierre-Louis Vezina |
| title_fullStr | The Oil Nouveau-Riche and Arms Imports Pierre-Louis Vezina |
| title_full_unstemmed | The Oil Nouveau-Riche and Arms Imports Pierre-Louis Vezina |
| title_short | The Oil Nouveau-Riche and Arms Imports |
| title_sort | the oil nouveau riche and arms imports |
| url | https://doi.org/10.1596/1813-9450-9374 |
| work_keys_str_mv | AT vezinapierrelouis theoilnouveauricheandarmsimports |