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| Author: | McLin, J. |
| Title: | The petroleum price rollercoaster - some social and economic effects in producing countries. |
| Journal: | International Labour Review
1988 : VOL. 127:4, p. 409-428 |
| Index terms: | OIL PRICES ECONOMIC INDICATORS |
| Language: | eng |
| Abstract: | Petroleum prices rose sharply in the 1970s and were expected to go on rising. With that in view much investment was made in both human and physical capital in producing countries. In the 1980s oil and gas prices have been volatile, and weaker than foreseen. This has called in question the viability of some of the human and institutional resources made during the boom period. The effects of this price instability on employment and activity are examined in different categories of producing countries. While the macro-economic effects have perhaps been greatest in countries heavily dependent on oil export earnings /OPEC and USSR/, the repercussions on the petroleum sector itself may have been more severe in the North American and North Sea countries. |
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