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| Tekijä: | Tsui, K.K. |
| Otsikko: | More oil, less democracy: evidence from worldwide crude oil discoveries |
| Lehti: | Economic Journal
2011 : MAR, VOL 121:551 p. 89-115 |
| Asiasana: | oil industry oil revenues democracy politics dictatorships wealth production |
| Kieli: | eng |
| Tiivistelmä: | This article exploits variations in the timing and size of oil discoveries to identify of oil wealth on democracy. It is found that discovering 100 billion barrels of oil pushes a country's democracy level almost 20 percentage points below trend after three decades. The estimated effect is larger for oilfields with higher-quality oil and lower exploration and extraction costs. However, the estimates become less precise when oil abundance is measured by oil discovery per capita, suggesting politicians may care about the level instead of the per capita value of oil wealth. |
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