In the winter of 1973, some major oil exporting countries joined together to declare an embargo on oil exports to some of the western countries for political reasons. Elated by their success and the realization that they controlled a major share of the oil exports, they subsequently raised the price of oil four-fold and cut back production, thereby obtaining, in the face of an almost inelastic ...

a r t i c l e i n f o Keywords: Economic efficiency Oil consumption DEA window analysis Dynamic panel data models This paper investigates the economic efficiency–oil consumption relationship in 42 countries during the period 1986–2006. In a first stage by using DEA window analysis countries' economic efficiencies are obtained. In a second stage an econometric analysis based on robust GMM estima...

Given the discovery of resource wealth, which factors account for future economic success and which factors hinder success? This case study compares two countries which discovered oil wealth in the late 1960s: Ecuador and Norway. The analysis gives the economic and political context and then compares three bodies of resource curse literature that relate to economic success. The study ultimately...

Do populations grow as countries become richer? In this study we estimate the effects on population growth of shocks to national income that are plausibly exogenous and unlikely to be driven by technological change. For a panel of over 139 countries spanning the period 1960–2007, we interact changes in international oil prices with countries’ average net-export shares of oil in GDP. Controlling...

BACKGROUND In sub-Saharan Africa, more than 42% of children are at risk for vitamin A deficiency, and control of vitamin A deficiency will prevent more than 600,000 child deaths annually. In the West African Economic and Monetary Union (UEMOA), an estimated 54.3% of preschool-age children are vitamin A deficient and 13% of pregnant women have night blindness. OBJECTIVE To project the achievem...

Major oil spills normally occur from oil pipelines and oil tankers that are under operational control of companies, namely, oil companies and tanker owners. There are two generic responses for changing the behavior of companies with regard to oil spill prevention: mandatory government regulation or voluntary initiatives often pursued under the banner of Corporate Social Responsibility (CSR). He...