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Oil windfalls in a small parliamentary democracy : their impact on Trinidad and Tobago (English)

In common with other oil exporters, Trinidad and Tobago reaped large windfall gains after 1973. Their use was heavily influenced by its distinctive political economy, and resulted in substantial weakening of its non-oil traded sectors (the 'Dutch disease'). Attempts to diversify through gas-based industrialization are not likely to replace shrinking oil income. This paper traces the relationship from political objectives to use of oil windfalls and the effects on the non-oil economy.

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Citation

Auty, Richard Gelb, Alan

Oil windfalls in a small parliamentary democracy : their impact on Trinidad and Tobago (English). Development Research Department discussion paper ; no. DRD 131 Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/809291468119634314/Oil-windfalls-in-a-small-parliamentary-democracy-their-impact-on-Trinidad-and-Tobago