The Oil Curse Validated: Evidence from Eurasia and Latin America

Authors

  • Barrak Algharabali Kuwait University, College of Business Administration, Department of Public Administration.
  • J. S. Butler Professor Martin School of Public Policy and Administration University of Kentucky
  • Stacy Closson Global Fellow with the Wilson Center's Kennan Institute in Washington, DC.

Abstract

Many studies have found a negative relationship between oil abundance and democracy.  However, recent studies have tried to upend this correlation by employing time-series techniques or finding a conditionality on other factors. This study contributes to the literature by employing an Arellano Bond model that corrects for fixed effects and adopts new variables from recent empirical studies. Comparing Eurasia and Latin America from the 1960s to 2010, we find that the theory of a negative relationship between an abundance of natural resources and democracy remains valid.Keywords: natural resource curse, natural resource dependence, democracy, natural resource abundanceJEL Classifications: N50, H6, P28DOI: https://doi.org/10.32479/ijeep.10772

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Author Biographies

Barrak Algharabali, Kuwait University, College of Business Administration, Department of Public Administration.

Assistant ProfessorKuwait UniversityCollege of Business AdministrationDepartment of Public Administration

J. S. Butler, Professor Martin School of Public Policy and Administration University of Kentucky

ProfessorMartin School of Public Policy and AdministrationUniversity of Kentucky

Stacy Closson, Global Fellow with the Wilson Center's Kennan Institute in Washington, DC.

Global Fellow with the Wilson Center's Kennan Institute in Washington, DC.

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Published

2021-04-10

How to Cite

Algharabali, B., Butler, J. S., & Closson, S. (2021). The Oil Curse Validated: Evidence from Eurasia and Latin America. International Journal of Energy Economics and Policy, 11(3), 494–501. Retrieved from https://econjournals.com/index.php/ijeep/article/view/10772

Issue

Vol. 11 No. 3 (2021)

Section

Articles

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