The Effect Of Oil Windfalls On Political Corruption
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The Effect Of Oil Windfalls On Political Corruption
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Author : Kathryn Baragwanath Vogel
language : en
Publisher:
Release Date : 2021
The Effect Of Oil Windfalls On Political Corruption written by Kathryn Baragwanath Vogel and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021 with categories.
Oil royalties provide a substantial and volatile inflow of non tax-payer money to municipal coffers, creating dynamic incentives for politicians in office. Resource windfalls change politicians' budget constraints, generate difficulties for voters to distinguish politicians' integrity, and create incentives for corruptible candidates to enter politics, changing the pool of candidates. Using a formal model with moral hazard and adverse selection, I show how resource windfalls generate the endogenous entry of worst candidates into politics, which generates cycles in corruption and reelection patterns. In Brazil, where offshore royalties are determined and allocated exogenously, oil inflows create strong opportunities for corruption. I find strong effects of oil windfalls on corruption. On average, a one standard deviation increase in oil royalties produces a 29% increase in corruption. The effects of windfalls on corruption are larger after elections during booms and lower during busts. Furthermore, oil royalties lead to a reelection cycle: when the price of oil is expected to be higher, incumbents are reelected more often than when the price of oil is expected to fall, independent of economic and individual level variables. I show that endogenous entry of worse candidates during booms is likely the cause of these corruption and reelection cycles, as predicted by the theory. Taken together, these results point to a strong effect of oil royalties on local level political equilibria.
Oil Rents Corruption And State Stability Evidence From Panel Data Regressions
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2009-12-01
Oil Rents Corruption And State Stability Evidence From Panel Data Regressions written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-12-01 with Business & Economics categories.
We examine the effects of oil rents on corruption and state stability exploiting the exogenous within-country variation of a new measure of oil rents for a panel of 31 oil-exporting countries during the period 1992 to 2005. We find that an increase in oil rents significantly increases corruption, significantly deteriorates political rights while at the same time leading to a significant improvement in civil liberties. We argue that these findings can be explained by the political elite having an incentive to extend civil liberties but reduce political rights in the presence of oil windfalls to evade redistribution and conflict. We support our argument documenting that there is a significant effect of oil rents on corruption in countries with a high share of state participation in oil production while no such link exists in countries where state participation in oil production is low.
Oil Rents Corruption And State Stability
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Author : Rabah Arezki
language : en
Publisher:
Release Date : 2009
Oil Rents Corruption And State Stability written by Rabah Arezki and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with Petroleum industry and trade categories.
We examine the effects of oil rents on corruption and state stability exploiting the exogenous within-country variation of a new measure of oil rents for a panel of 31 oil-exporting countries during the period 1992 to 2005. We find that an increase in oil rents significantly increases corruption, significantly deteriorates political rights while at the same time leading to a significant improvement in civil liberties. We argue that these findings can be explained by the political elite having an incentive to extend civil liberties but reduce political rights in the presence of oil windfalls to evade redistribution and conflict. We support our argument documenting that there is a significant effect of oil rents on corruption in countries with a high share of state participation in oil production while no such link exists in countries where state participation in oil production is low.
Oil To Cash
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Author : Todd Moss
language : en
Publisher: CGD Books
Release Date : 2015-06-10
Oil To Cash written by Todd Moss and has been published by CGD Books this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-06-10 with Business & Economics categories.
Oil to Cash explores one option to help countries with new oil revenue avoid the so-called resource curse: just give the money directly to citizens. A universal, transparent, and regular cash transfer would not only provide a concrete benefit to regular people, but would also create powerful incentives for citizens to hold their government accountable. Oil to Cash details how and where this idea could work and how policymakers can learn from the experiences with cash transfers in places like Mexico, Mongolia, and Alaska.
Oil Windfalls
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Author : Alan H. Gelb
language : en
Publisher: Oxford University Press
Release Date : 1988
Oil Windfalls written by Alan H. Gelb and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1988 with Business & Economics categories.
This book assesses the full impact of oil windfalls on six developing producer countries - Algeria, Ecuador, Indonesia, Nigeria, Trinidad and Tobago, and Venezuela. This is the first time that the issue has been systematically analysed and related to economics policies and underlying macroeconomic characteristics. The book adopts a broad approach, blending institutional and political aspects with quantitative analysis which includes the results of sophisticated model simulations. It presents new information on how oil discoveries have been used by producer governments, and analyses of the consequences. Finally it concludes that much of the potential benefit to producers has been dissipated, and explains why producers may actually end up worse off despite revenue gains.
The Many Faces Of Corruption
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Author : J. Edgardo Campos
language : en
Publisher: World Bank Publications
Release Date : 2007-04-04
The Many Faces Of Corruption written by J. Edgardo Campos and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-04-04 with Business & Economics categories.
Corruption... How can policymakers and practitioners better comprehend the many forms and shapes that this socialpandemic takes? From the delivery of essential drugs, the reduction in teacher absenteeism, the containment of illegal logging, the construction of roads, the provision of water andelectricity, the international trade in oil and gas, the conduct of public budgeting and procurement, and the management of public revenues, corruption shows its many faces. 'The Many Faces of Corruption' attempts to bring greater clarity to the often murky manifestations of this virulent and debilitating social disease. It explores the use of prototype road maps to identify corruption vulnerabilities, suggests corresponding 'warning signals,' and proposes operationally useful remedial measures in each of several selected sectors and for a selected sampleof cross cutting public sector functions that are particularlyprone to corruption and that are critical to sector performance.Numerous technical experts have come together in this effort to develop an operationally useful approach to diagnosing and tackling corruption. 'The Many Faces of Corruption' is an invaluable reference for policymakers, practitioners, andresearchers engaged in the business of development.
Fiscal Institutions And Fiscal Performance
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Author : James M. Poterba
language : en
Publisher: University of Chicago Press
Release Date : 2008-04-15
Fiscal Institutions And Fiscal Performance written by James M. Poterba and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-04-15 with Political Science categories.
The unprecedented rise and persistence of large-scale budget deficits in many developed and developing nations during the past three decades has caused great concern. The widespread presence of such deficits has proved difficult to explain. Their emergence in otherwise diverse nations defies particularistic explanations aimed at internal economic developments within a specific country. Fiscal Institutions and Fiscal Performance shifts emphasis away from narrow economic factors to more broadly defined political and institutional factors that affect government policy and national debt. This collection brings together new theoretical models, empirical evidence, and a series of in-depth case studies to analyze the effect of political institutions, fiscal regulations, and policy decisions on accumulating deficits. It provides a fascinating overview of the political and economic issues involved and highlights the role of budgetary institutions in the formation of budget deficits.
From Windfall To Curse
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Author : Jonathan Di John
language : en
Publisher: Penn State Press
Release Date : 2015-12-21
From Windfall To Curse written by Jonathan Di John and has been published by Penn State Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-12-21 with Business & Economics categories.
Since the discovery of abundant oil resources in the 1920s, Venezuela has had an economically privileged position among the nations of Latin America, which has led to its being treated by economic and political analysts as an exceptional case. In her well-known study of Venezuela’s political economy, The Paradox of Plenty (1997), Stanford political scientist Terry Karl argued that this oil wealth induced extraordinary corruption, rent-seeking, and centralized intervention that resulted in restricting productivity and growth. What this and other studies of Venezuela’s economy fail to explain, however, is how such conditions have accompanied both growth and stagnation at different periods of Venezuela’s history and why countries experiencing similar levels of corruption and rent-seeking produce divergent developmental outcomes. By investigating the record of economic development in Venezuela from 1920 to the present, Jonathan Di John shows that the key to explaining why the economy performed much better between 1920 and 1980 than in the post-1980 period is to understand how political strategies interacted with economic strategies—specifically, how politics determined state capacity at any given time and how the stage of development and development strategies affected the nature of political conflicts. In emphasizing the importance of an approach that looks at the political economy, not just at the economy alone, Di John advances the field methodologically while he contributes to a long-needed history of Venezuela’s economic performance in the twentieth century.
Global Corruption Report Climate Change
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Author : Transparency International
language : en
Publisher: Routledge
Release Date : 2013-11-26
Global Corruption Report Climate Change written by Transparency International and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-11-26 with Political Science categories.
The global response to climate change will demand unprecedented international cooperation, deep economic transformation and resource transfers at a significant scale. Corruption threatens to jeopardise these efforts. Transparency International's Global Corruption Report: Climate Change is the first publication to comprehensively explore such corruption risks. More than fifty leading experts and practitioners contribute, covering four key areas: governance: investigating major governance challenges towards tackling climate change mitigating climate change: reducing greenhouse gas emissions with transparency and accountability adapting to climate change: identifying corruption risks in climate-proofing development, financing and implementation of adaptation forestry governance: responding to the corruption challenges plaguing the forestry sector, and how these challenges need to be integrated into current international strategies to halt deforestation and promote reforestation. The Global Corruption Report: Climate Change provides essential policy analysis to help policy-makers, practitioners and other stakeholders understand these risks and develop effective responses at a critical point in time when the main architecture for climate governance is being developed.
The Oil Curse
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Author : Michael L. Ross
language : en
Publisher: Princeton University Press
Release Date : 2013-09-08
The Oil Curse written by Michael L. Ross and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-09-08 with Political Science categories.
Countries that are rich in petroleum have less democracy, less economic stability, and more frequent civil wars than countries without oil. What explains this oil curse? And can it be fixed? In this groundbreaking analysis, Michael L. Ross looks at how developing nations are shaped by their mineral wealth--and how they can turn oil from a curse into a blessing. Ross traces the oil curse to the upheaval of the 1970s, when oil prices soared and governments across the developing world seized control of their countries' oil industries. Before nationalization, the oil-rich countries looked much like the rest of the world; today, they are 50 percent more likely to be ruled by autocrats--and twice as likely to descend into civil war--than countries without oil. The Oil Curse shows why oil wealth typically creates less economic growth than it should; why it produces jobs for men but not women; and why it creates more problems in poor states than in rich ones. It also warns that the global thirst for petroleum is causing companies to drill in increasingly poor nations, which could further spread the oil curse. This landmark book explains why good geology often leads to bad governance, and how this can be changed.