Search

La estabilidad económica y política de los países latinoamericanos sigue el ritmo de los precios internacionales de los commodities. En Ecuador, el último medio siglo ha estado determinado por el precio del petróleo. Un análisis histórico de este periodo sugiere la existencia de cierta regularidad en la trayectoria económica ecuatoriana, expresada en al menos dos ciclos de expansión y declive. El presente artículo analiza y pone en perspectiva los paralelismos y diferencias entre estos dos ciclos. Para esto, se ha realizado una comparación sistemática de ciertos indicadores económicos y sociales, la coyuntura política y el contexto ideológico y geopolítico. Se concluye resaltando los límites de los proyectos de transformación durante los periodos de auge y de los programas de ajuste durante las recesiones. La stabilité économique et politique des pays d’Amérique latine suit le rythme des prix internationaux des marchandises. En Équateur, les cinquante dernières années ont été régies par les cours du pétrole. Une étude historique de cette période suggère l’existence d’une certaine régularité dans la trajectoire économique équatorienne, qui s’exprime à travers au moins deux cycles d’expansion et de déclin. La présente contribution analyse et met en perspective les parallèles et différences existant entre ces cycles. Pour ce faire, une comparaison systématique de certains indicateurs économiques et sociaux, de la conjoncture politique et du contexte idéologique et géopolitique a été menée. L’article conclut en soulignant les limites des projets de transformation lors des périodes de booms et celles des programmes d’ajustement lors des récessions. The economic and political stability of Latin American countries keeps pace with international commodity prices. In Ecuador, the last fifty years have been ruled by oil prices. A historical study of this period suggests the existence of a certain regularity in the Ecuadorian economic trajectory, with at least two boom and recession cycles. This paper analyzes the parallels and differences between these cycles, putting them into perspective. To this purpose, a systematic comparison of economic and social indicators, the political situation, and the ideological and geopolitical context was carried out. The article concludes by highlighting the limits of transformation projects during booms and of adjustment programs during recessions.

Farmers and politicians in North Dakota and nearby states claim that dramatic increases in shipments of crude oil by rail in 2013–14 caused service delays and higher costs. We investigate t...

Economic diversification and addressing challenges of non-oil producers are a common policy goal in many resource-exporting countries. This study’s contribution is in drawing policy makers’ attention to intermediate services, i.e., services used by firms together with other inputs in their production process. These services are increasingly important for enhancing manufacturing exports and productivity, as well as earning direct export revenues. Yet, there is limited research on how the intermediate service market performs in countries with large extractive industries. To understand complex dynamics between the resource and service sectors, we rely on the evidence from Kazakhstan, a large petroleum producer. Using panel data analysis, we find that, due to the very high service intensity of petroleum production, rising petroleum output leads to higher intermediate service prices and lower intermediate service output purchased by non-oil producers. To mitigate the oil boom’s crowding out of non-oil producers from the service market, we recommend service sector diversification policies.

We provide the first estimates of the long-run income effects of temporary resource booms on people, rather than places, focusing on the U.S. oil boom and bust of the 1980s. Using household-level longitudinal data, we find positive effects during the boom period and negative effects during the bust period. The cumulative effect through 2012 was arguably negative when restricting the sample to prime working years (

Scholars develop two different thoughts of natural resource wealth and its relations to political stability, namely - the resource curse and the rentier state. In the rentier state discourse, the revenue from resource extraction is used to buy off peace through several methods, such as patronage, repression, external support and large-scale distributive policy. The rentier economy concept becomes an important subject to explain oil economies in oil-rich countries across the world, especially in the Middle East region. This paper explores the rentier practice outside the Middle East by focusing on Southeast Asia. It uses a single case study - Indonesia under Suharto during the oil boom period. Two main questions are addressed by this paper - what kind of rentier state practice can be found from the authoritarian government especially during the oil boom period, and how the local/regional newspapers report on and react to the government rentier state practices? The paper relies on nine local, and three national newspapers as its primary data, supported by secondary sources to answer those questions. The finding shows that the national and local newspapers wrote different reports on rentier practices and all newspapers adopted three different positions on rentier practices - pro-government, critical to government, and neutral position.

Franklin believes the US oil-drilling boom in the Permian Basin made her ill. She and her husband were lucky enough to get out. An oil company paid them off, financing their move to Fort Davis, where they can breathe cleaner air at higher elevation. Yet she still feels poorly. She can't name the firm that paid her to leave, as she signed a waiver agreement. Now 40 miles away, she feels safer from the invisible danger of the wells. Big and small oil and gas businesses in the Permian Basin contribute to gas pollution that some fear could leave many of the region's two million residents with lasting damage. The Basin, one of the USA's largest oildrilling regions, gets its name from thick deposits of rocks from the Permian geological period. It catalysed a renewed drilling boom that elevated America to `become great again', at least among drillers. Donald Trump, who ran with this slogan as presidential candidate in 2016, helped. The US is now the largest oil producer in the world. 2019 was an extraordinary year for domestic oil exploration in the Basin and it brightened the landscape with flaring stacks like never before. Gas emissions spiralled. New drilling technology played a role. It boosted efficiency in volume extraction. Franklin vividly remembers lit flares burning the abundant gas: “It never went dark. The light from the flare when it was burning was like daylight outside our bedroom window, day and night.

Court cases, investigative reports and other exposes provide a wealth of new information about how corruption unfolded during Africa's 2005 to 2014 oil boom. The analysis of 60 controversies from 17 African countries resulted in several observations about how public and private sector actors used illicit tactics to capture a portion of the ballooning resource rents. As during previous oil booms, the historic rise in prices increased the incentives for corruption, and Africa's ‘rentier states’ created conducive environments for its pursuit. Companies took great reputational and legal risks to win over government decision-makers. Government officials found inventive ways to insert themselves or, more often, their allies into lucrative oil sector deals in order to enrich their inner circle and bolster their political positions. These are familiar dynamics, but they assumed new forms during the recent boom years. The corruption cases featured a broader mix of private sector players, reflecting the diversity of actors lured to Africa by boom-time prices. Fixers, national oil companies, and offshore shell companies appeared with great regularity across the cases. Identifying trends such as these can help inform the anti-corruption strategies of the future.

The oil boom (2004–2014) led to a re-emergence of resource nationalism in African countries. Much attention has been paid to the shift of control over resources from foreign private interests to domestic, often state-controlled companies. Less is known about the impact on the capacity of state organizations to regulate and develop the sector. This article draws on a Pocket of Effectiveness (PoE) approach to analyze the development of capacity in Tanzania. It suggests that resource nationalism developed in two phases. First, a moderate form emerged, which allowed the Energy and Water Utilities Regulatory Authority (EWURA) and to some extent the Tanzania Petroleum Development Corporation (TPDC) to become PoEs able to help controlling the rents of private, primarily foreign companies. Later, a more radical version presented still tougher terms and centralized decision-making to such an extent that it undermined the autonomy and capacity of the two organizations. The more radical phase continued and intensified after the collapse of oil prices. This suggests that there can be a great deal of ambivalence about the impact of prices and resource nationalism within a country because interventions are shaped by political dynamics, which in Tanzania's later and more radical phase overruled global price signals.

The oil palm tree, is originally a native crop of the tropical forest of West Africa. Palm oil trade emergedduring the British Industrial Revolution, whereby it was used for machines lubrication. Nigeria is among thefew places where the fruit was first discovered before the 14th century. Palm oil serves as the main vegetableoil produced globally, generating almost 60% of international trade in vegetable oils. In 1960s, Nigeria wasthe largest palm oil-producing and exporting country in the world. This accounted for forty-three percent ofentire palm oil global production, but the production entirely declined as a result of other factors that causedslow growth in palm oil production, while the domestic consumption has increased. Now it produces ameagre 1.7 percent of total world production which is insufficient for local consumption. Nigeria lost itsposition to Malaysia and Indonesia. Nigeria currently does not export palm oil, but it imports it fromMalaysia and Indonesia due to the local shortfall. The objective of this paper, explores the necessitatingfactors to Nigerian failure on palm oil, the paper is a qualitative research, it has adopted document analysis,the findings of the paper are the necessitating factors that led to the Nigerian failure on palm oil whichinclude; oil boom and decline in agriculture, civil war, traditional system of palm oil production, inconclusion, these factors are the failure to Nigerian palm oil production. Keywords: Nigerian Background, Oil Palm, Palm Oil, Necessitating Factors

The study investigated the strategies for effective funding of Technical Vocational Education and Training (TVET) programmes for sustainable development in post-oil boom era using descriptive survey research design. The population for this study consisted of 210 respondents comprising of 82 TVET lecturers in tertiary institutions and TVET teachers 128 in six technical colleges in Edo State offering TVET programmes. The sample for the study consisted of 137 respondents randomly sampled. A 62-item questionnaire developed from literature review was the instrument used for data collection. Three experts validated the instrument. Cronbach Alpha method was used to determine the internal consistency of the instrument and an index of .88 was obtained. Factor analysis was used to answer the research questions while the hypotheses were tested at .05 level using Analysis of variance (ANOVA). The findings of the study revealed among others that donations of tools, equipment and other learning materials from alumni associations, foreign assistance, public private partnership; skill development levy; currency transaction levy; air ticket solidarity levy; academic facility fee; ring-fenced TVET were some of the sources of funding TVET. Based on the findings of this study, it was recommended among others that government and all other stakeholders should urgently adopt the funding strategies identified in this study for TVET programmes for sustainable development in the post-oil boom economy.

Indonesia is a country that is currently in a developing country position. Indonesia was predicted to be one of the strongest economies in Asia, especially during the oil boom era where Indonesia has oil reserves that are driving economic growth. However, the presence of oil cannot be used for long-term investment and the consequences of the 1998 monetary crisis prevented Indonesia from reaching its potential. In the future the country's growth will be driven by technology. This research is applied research to use Porter's Competitive Advantage model for the State. The data used are secondary data from trusted institutions for which data is publicly available. The results of this study are that Indonesia has the opportunity to become a new economy power in the future as long as it can utilize the current momentum.

Does land fragmentation impair spatially expansive natural resource use? We conduct empirical tests using ownership variation on the Bakken, one of the world's most valuable shale oil reserves. Long before shale was discovered, US policies created a mosaic of private, jointly owned and tribal government parcels on the Fort Berthold Indian Reservation. We find that all three forms of fragmentation reduced production during the 2010–15 oil boom, especially joint ownership and the interspersion of small parcels of government and private land. We estimate implied gains from consolidation and discuss implications for the use (or conservation) of other spatially expansive resources.

The Bakken region of the US recently experienced an oil boom, resulting in population growth and social change, including increased family violence. Drawing on care work literature, we ask: how might rural resource development impact the care work associated with services for domestic violence survivors? Utilising thematic analysis techniques, we examine data from in-depth interviews conducted with 50 care workers. We find that oil booms: (1) create more demand for care work; (2) lead to a scarcity of care workers; and (3) impact care delivery and burnout among care workers. Findings illustrate the importance of considering care as human infrastructure.

The problems associated with oil spill clean-up has been of burden to all oil spill stakeholders all over the world and the method of clean-up depends on the type of spill, the volume of spill, the location and weather at the time of clean-up. Generally, while the clean-up of oil spill on the sea involves the use of standard oil boom, foxtail skimmer and dispersion system mounted on an airplane, spill on land can be cleaned with high-pressure system, scooping, and in-situ burning. In Imo State, the clean-up was through in-situ burning, scooping and burying the oil. The communities participated in the clean-up as voluntary services and sometimes for financial gains. The study utilized mixed methods and a total of 376 correctly filled and returned out of 400 administered questionnaires were used and 13 interviews were conducted for this research. Purposive sampling method was utilized for the qualitative as it gave the researcher the opportunity to select informants with deep knowledge and experience coupled with willingness to release the authentic data required for the analysis of the study. The findings show that communities in Ohaji/Egbema and Oguta in Imo state Nigeria actively participated in oil spill clean-ups in their localities whenever there was spill and at the end of it, they suffered great psychological, health and other socio-economic impacts.

Oil Boom is an equipment used for efforts to overcome the oil spills that occur in the sea. The function of the Oil Boom itself is to limit the oil spill so that it doesn't spread too wide. The hydraulic system is a system that utilizes pressurized liquid fluid as the actuator drive media. The concept of the technical analysis of this system is the design of the winch system using a hydraulic motor which is a driving device as well as a roller of an oil boom that has a length of 2 kilometers and then stored into the drum that has been designed. All components are in a container package that has been designed to place the position and layout. To see the advantages and disadvantages of the system design, technical analysis is carried out. From the results of data processing it can be calculated for the torque moment of the drum which is equal to 9,344.416 Nm and weighs 242.697 kg. BLACKBRUIN BBC05 type hydraulic motor has been determined which has a torque of 10,360-13,305 Nm and a pressure of 350-400 bar. After the total air demand for oil boom as long as 2 km is known, which is equal to 552,951 cm3, the next step is to select the right compressor. Selected type TANABE TASK-25110 compressor with a capacity of 1,020 m3/hour. That way, it can be determined the air filling time for the oil boom is 0.542 hours = ±35-40 minutes.

PurposeThe Oman economy is dominated by production and export of petroleum products and an overdependence on oil revenue, which may have contributed to the continuance of the “resource curse” phenomenon. The purpose of this research is to examine the co-integration of oil with macroeconomic indicators of Oman and of suggesting some policy reform measures to trim down overdependence on oil.Design/methodology/approachThe authors culled out data from the annual reports published by the Central Bank of Oman from 1975 to 2016. Considering oil price and oil export volume as regressors, the long-term integration with other macroeconomic indicators was examined by using the bound test. Further, auto regressive distributed lag (ARDL) model was also derived to check the impact of these cross-sectional relations.FindingsOil price is observed to have a strong long-term significant relation with all the macroeconomic variables used in this study. However, the volumes of oil exports do not appear to have significant influence on GDP and consumption but do naturally sway other variables. This indicates that less elasticity of consumption to the flow of macro income, because the consumption in the Omani economy is driven by perceived future income. Oil export revenue is not seems to be much impacting on the real sector as the deficits are funded by the government through compensatory spending. Oil prices and oil exports have exhibited a strong long-term integration with variables such as gross domestic savings (GDS), credit to government (C2G), credit to private (C2P), demand deposits (DD) and time deposits (TD). This hints that oil boom does constitute the key source of funding of the financial sector of Oman.Research limitations/implicationsThis study offers a generalized submission to support the real sector of Oman to lead out of a resource curse through diversification. The study however does not provide industrial groupings to assess the impact of fluctuations in oil prices.Originality/valueThis research has confirmed the existence of “resource movement” effect and “spending effect” in Oman economy. The nation needs to take radical measures to come out of this phenomenon. For addressing this we have suggested the modified version of Shumpeterian model of creative destruction. In this model we call for demolishing the oil dependent structure with a diversification structure. The new move can bring more positive effect on real and financial sectors of the economy.

Much has happened in the three countries of the South Caucasus-namely, Azerbaijan, Georgia, and Armenia-since the collapse of the Soviet Union. Political events, institutional reforms, and economic development have resulted in greater economic welfare in these countries after the painful transition period of the 1990s. However, it remains to be seen whether they have achieved any solid results or whether they still have much to accomplish. While the answer is ambiguous, each country has followed a different political, geopolitical, economic, and institutional path and achieved different economic outcomes despite their close geographical proximity to each other. This paper compares the available data on economic and institutional quality in Azerbaijan, Georgia, and Armenia to portray the overall situation in terms of changes in institutional patterns. Then, special attention is given to Azerbaijan, as the country is considered to be oil-rich and thus resource-dependent. A comparative perspective on institutional quality suggests that Georgia has been a leading country in terms of institutions and effective bureaucracy-building, despite having lower economic indicators compared to Azerbaijan. Moreover, while Armenia is positioned between Georgia and Azerbaijan in terms of institutional quality, its economic growth is similar to Georgia's. Lastly, institutional variables (e.g., control of corruption, rule of law, and government effectiveness, and human rights) in Azerbaijan are negatively correlated with oil-related variables. This result aligns with the natural resource curse and Dutch disease theories, which posit that oil boom periods in mineral-rich countries are associated with a deterioration in institutional quality, thereby leading to slower growth. Also, the results are important to build up analytical frameworks to address the Dutch disease or resource curse studies in the case of Azerbaijan in a comparative manner with oil-poor countries even if the scope is limited to the South Caucasian former Soviet Union countries.

Для економіки Азербайджану притаманним є постійна значна залежність від нафтової індустрії. Так, саме доходи від видобутку та продажу нафти й нафтопродуктів забезпечували економічне зростання та фінансування всіх споживчих потреб. Однак, перехід від нафтового буму до поступового спаду нафтової промисловості обумовив досить серйозні економічні шоки та визначив необхідність значних структурних трансформацій в національній економіці. Мета статті полягає в дослідженні потенціалу інноваційного розвитку економіки Азербайджану у пост нафтовий період та визначення пріоритетів антиінфляційної політики держави. Для перевірки гіпотези про необхідність зміни пріоритетів економічного регулювання та антиінфляційної політики було проведено динамічний та структурний аналіз основних показників розвитку економіки Азербайджану (виробництво, зайнятість, експорт, інфляція, платіжний баланс, державні витрати тощо) у період нафтового буму та постнафтовий період. Було ідентифіковано структурні трансформації в економіці Азербайджану, що відбувались протягом останніх 20 років, що дозволило висунути гіпотезу щодо впливу світового попиту на нафту на основні параметри національного господарства країни. За допомогою регресійного аналізу за методом Ньюї Веста (для даних часового ряду) виявлено специфіку взаємозв’язків ключових індикаторів розвитку нафтової промисловості (обсяги видобутку та реалізації нафти, ціни на нафту), інфляції (споживчі ціни, обмінний курс), виробництва (структура та додана вартість промисловості, інвестиції тощо), інноваційного розвитку (витрати на дослідження та розробки, виробництво та зовнішня торгівля високотехнологічними товарами та послугами) та соціального сектору (державні витрати, зайнятість, освіта) на двох часових проміжках: нафтового буму (2005–2014 рр.) та постнафтовому періоді (після 2014 р.). У ході дослідження доведено, що перехід від нафтового буму до постнафтового періоду пов'язаний зі зміною характеру причинно-наслідкових залежностей між показниками розвитку нафтової промисловості та рядом індикаторів економічного, інноваційного та соціального розвитку Азербайджану. На основі виявлених змін у специфіці причинно-наслідкових зв’язків обґрунтовано напрямки зміни пріоритетів державного регулювання економіки в контексті подолання інфляційних процесів та забезпечення переходу до інноваційнокерованої економіки. Azerbaijan's economy is traditionally characterized by a high dependence on the oil industry. Thus, the revenues from producing and selling oil and oil products provided economic growth and financing for most consumer needs. However, the transition from the oil boom to the gradual decline of the oil industry has caused quite serious economic shocks and identified the need for significant structural transformations in the national economy. The article aims to study the potential of innovative development of Azerbaijan's economy in the post-oil period and to determine the priorities of the state's anti-inflationary policy. To test the hypothesis of the need to change the directions of economic regulation and anti-inflationary policy, a dynamic and structural analysis of key indicators of Azerbaijan's economic development (production, employment, exports, inflation, the balance of payments, government spending, etc.) during the oil boom and post-oil period was conducted. The structural transformations in the economy of Azerbaijan that have taken place over the past 20 years have been identified, which made it possible to put forward a hypothesis about the impact of world oil demand on the main parameters of the country's national economy. Regression analysis by the Newey West method (time-series data) revealed the specifics of the relationship between key indicators of oil industry development (oil production and sales, oil prices), inflation (consumer prices, exchange rate), production (structure and value-added of industry, investment, etc.), innovative development (expenditure on research and development, production and foreign trade of high-tech goods and services) and the social sector (government spending, employment, education) in two time periods: the oil boom (2005–2014) and the post-oil period (after 2014). It was proved that the transition from the oil boom to the post-oil period is associated with a change like cause-and-effect relationships between indicators of the development of the oil industry and several indicators of economic, innovative, and social development of Azerbaijan. Based on the identified changes in the specifics of causation, the directions of changing the priorities of state regulation of the economy in the context of overcoming inflation and ensuring the transition to an innovation-driven economy are substantiated.

This article recounts the practice of producing a commercial newspaper feature for a major American outlet on energy transition and the end of the oil boom in Aberdeen, Scotland. Speaking to both media and energy geographies, it pursues journalistic practice as a form of energy ethnography, exposing how entangled journalism practitioners are with the systems they report with reference to the concept of petroculture. Narrating 48 hours spent on the ground in the oil city, it discusses the invisible processes behind the commercial publication of a transition narrative and the experience of working in the field to construct the story. By focusing on questions of transnational power and gatekeeping, the concept of the energy city, and the role of oil in both visible and invisible forms, it uses its unique dual practitioner/academic perspective to speculate on the possibility of moving beyond market friendly “good news” transition narratives to more meaningful interrogations of energy.

This qualitative study examines the influence of media development in Iraqi Kurdistan after nearly a decade and a half of donor country-funded professional journalism training in a period following an oil boom and bust, influence of a transnational terror organization, and a recent vote to secede from the rest of Iraq. The study builds out a typology of economic, political, bureaucratic, legal, cultural, and societal capture, and applies it in an analysis of data from in-depth, semi-structured interviews that were conducted in the two largest cities in Iraqi Kurdistan.

This article examines the long-term labour market consequences of a positive and large-scale economic shock, the discovery of oil and gas in Norway. Using longitudinal data on the entire Norwegian population, we find that the shock increases male income by around 7%, while reducing female income by up to 14%. Although married women experience the largest income losses, they also have higher household income, revealing the importance of labour supply adjustments within households. While these income shifts persist for two decades, the subsequent generation of female workers are able to close the income gap with their peers in areas less affected by the oil boom.

The United Arab Emirates has the highest population growth rate in the Arabs region, with approximately 10 million people (Elessawy, 2017). It reported a five-year growth rate of 1.31% between 2015 and 2020 (Khan et al., 2019). The vast population growth has been attributed to an increase in birth rates. UAE government recently encouraged its citizens to give birth to reduce the disparity in population demographics between the expatriates and UAE citizens. Furthermore, a sharp increase in the influx of expatriates accounts for such an unprecedented population growth rate. The country has recently experienced an oil boom, which increased the country's availability of business opportunities, attracting expatriates to take such advantages. The most significant concern for economists is how the revolution of technology combined with robust population growth will impact retirement age (Fisher & Ryan, 2018). The current retirement age in UAE is 60 years, but some workers can retire at 65 after getting approval, according to the UAE labor laws (Alkhawaja & Albaity, 2020). UAE is one of the leading technology hubs in the world. The country has significantly invested in technology and innovation. Ninety percent of people in the country are connected to the internet with personal computers at their homes (Coccia, 2018). As technological advancement takes center stage in the UAE, the availability of information will influence critical decisions from workers and the private sector at large. What is the preference of the private sector in the UAE labor markets? Given a robust technological advancement coupled with a sharp influx of expatriates in the country, the private sector, and the public sector will have tough decisions to make before choosing either experienced retirees or young graduates (Sarvari et al., 2020). This research paper seeks to understand the dynamics in the UAE labor market and prospects resulting from high population growth rate, technological advancement, and the private sector's emergence. Through preliminary studies, the paper seeks insight into the causes of the high population growth rate, effects of technological advancements, and private sector business on the retirement age decisions among UAE inhabitants.

We analyze the impact of oil and gas booms on local environmental quality in school districts in Texas between 2010 and 2014. Using data from the Toxic Release Inventory (TRI) and County Business Patterns, we distinguish economic activity associated with potential and actual polluters. We find that the presence of oil and gas resources in a school district has spillover effects in terms of economic activity by attracting more potentially polluting firms. Oil abundance also generates an actual environmental burden for school districts located in MSAs as the proportion of firms that actually report a release of toxic chemicals to the TRI increases with oil revenue.