The Oil Nouveau-Riche and Arms Imports (English)

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 $80 per barrel. These estimates can be interpreted...

DETAILS

Author

Vezina,Pierre-Louis;
Document Date
2020/09/01
Document Type
Policy Research Working Paper
Report Number
WPS9374
Volume No
1
Total Volume(s)
1
Country
World, Africa,
Region
Other, Africa,
Disclosure Date
2020/09/01
Disclosure Status
Disclosed
Doc Name
The Oil Nouveau-Riche and Arms Imports
Keywords
oil-importing countries

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Citation

Vezina,Pierre-Louis.

The Oil Nouveau-Riche and Arms Imports (English). Policy Research working paper|no. WPS 9374 Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/302681598970589744

The Oil Nouveau-Riche and Arms Imports (English)

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