Open AccessPerilous Petrodollars: The Effects of Oil Wealth on Democratization
Author(s) -
Marisa Mendez Cochrane
Publication year - 2007
Publication title -
elements
Language(s) - English
Resource type - Journals
eISSN - 2380-6087
pISSN - 2378-0185
DOI - 10.6017/eurj.v3i1.8983
Subject(s) - democratization , authoritarianism , democracy , accountability , politics , revenue , order (exchange) , economics , economic system , political science , political economy , development economics , economic policy , law , finance
This paper examines the relationship between oil wealth and democratic reform. This relationship is especially problematic for states that were less developed prior to the discovery of oil. The large oil revenues of authoritarian rentier states, coupled with limited mechanisms for distributional accountability and political participation, ensure a difficult road ahead for democratic reforms in such countries. As long as global dependence on oil persists, the internal politics of oil-rich states will remain extremely important. Hence, it is necessary to understand the ways in which oil impedes democracy in order to look for viable solutions.