Sunday 22 April 2012
The oil curse: How petroleum wealth shapes the development of nations
In this audio from VoxEU.org Michael Ross talks to Viv Davies about his recent book ‘The Oil Curse: How Petroleum Wealth Shapes the Development of Nations’. They discuss the irony of how those countries with the greatest social and economic deficits are also the most vulnerable to the oil curse and as a result grow less quickly than might be expected given their wealth.
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Looking at Argentina, it seems the worst possible thing a country can do when it has vast hydrocarbon resources is to nationalise them. How dare a sovereign nation profit of their own resources, when a multi-national oil company could be profiting?
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