Did Nigeria and Angola manage their oil windfalls well between 1970 and 2000: what lessons can be learned for new oil producers?
by Othman Cole; Terence Tse; Mark Esposito
International Journal of Economic Policy in Emerging Economies (IJEPEE), Vol. 8, No. 1, 2015

Abstract: A central goal that has eluded most countries in sub-Saharan Africa is to effectively manage their natural resources, develop diversified and prosperous economies, and as a result, improve the standard of living of their citizens. This paper draws from the framework of diversification and economic growth, resource-based industrialisation, resource curse hypothesis, ownership and control, and political structure and economic choices to examine how Nigeria and Angola managed their oil and gas resources from the 1970s to the late 1990s and the outcome of their choices. The period studied starts from the two oil booms in the 1970s up to the point at which numerous coup d'états and rebel conflicts ended, with a transition to civilian rule, in the late 1990s and early 2000s for Nigeria and Angola respectively. The findings show that both countries were poorly equipped to diversify their economies and failed to achieve economic prosperity for their citizens.

Online publication date: Mon, 16-Mar-2015

The full text of this article is only available to individual subscribers or to users at subscribing institutions.

 
Existing subscribers:
Go to Inderscience Online Journals to access the Full Text of this article.

Pay per view:
If you are not a subscriber and you just want to read the full contents of this article, buy online access here.

Complimentary Subscribers, Editors or Members of the Editorial Board of the International Journal of Economic Policy in Emerging Economies (IJEPEE):
Login with your Inderscience username and password:

    Username:        Password:         

Forgotten your password?


Want to subscribe?
A subscription gives you complete access to all articles in the current issue, as well as to all articles in the previous three years (where applicable). See our Orders page to subscribe.

If you still need assistance, please email subs@inderscience.com