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Research Activities

Research Projects

FY 2007/2008 Research Topic: 4-16
Political Economy of the Oil Industry in Developing Countries


Several changes have been observed in the international oil industry in recent years, especially among the oil producing developing countries. The first has been the rise of resource nationalism. It is important to understand that this second wave of resource nationalism is spreading today in the context of the maturing of the international oil markets in last two decades, which makes a clear difference from the experience of the first wave of resource nationalism up to the 1970s.

The second is the emergence of national oil companies (NOCs) as important players in the international oil industry. They have grown as leading oil producers, and have also played an important role as powerful tools of national control over oil. The third is the rise of local voices demanding oil rents against the central authority of the oil producing countries. Ethnic groups and/or local governments (residents) have claimed their rights for a piece of the pie (oil rent).

This two-year research project aims to analyze factors which influence policies and the performance of the oil industry in developing countries from a political economy approach. The countries to be studied are Russia, China, Venezuela, Indonesia, Iraq, Nigeria, and Ecuador. The first four will be analyzed in the framework of “state-market” relations, and the second group as cases in which local voices have been an important factor in policies and the performance of the oil industry.


Members of the Research Project

HORII Nobuhiro (Associate Professor, Kyushu University)
YOSHIOKA Akiko (Researcher, The Institute of Energy Economics)
ARAKI Hidekazu (Associate Professor, Kanagawa University)
ITO Shoichi (Researcher, Economic Research Institute for Northeast Asia [ERINA])