TITLE

SUBPRIMING THE PUMP

AUTHOR(S)
El-Gamal, Mahmoud A.; Jaffe, Amy Myers
PUB. DATE
September 2009
SOURCE
Foreign Policy;Sep/Oct2009, Issue 174, p98
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article discusses the ways the world oil market contributed to the global economic crisis that began in 2008. The historic economic risk posed to oil-rich countries by their own energy resources is discussed, as is the globalization of that risk since the late 20th century by increasingly interconnected international financial markets. Also discussed is the funneling of oil wealth into military spending in the Middle East, the political instability that creates, and the contributing role of developed countries like the United States.
ACCESSION #
44483405

 

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