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But didn't Venezuela explicitly kick out foreign oil corps, despite not having a sophisticated oil extraction industry itself?
by Chris2048 3y ago
But didn't Venezuela explicitly kick out foreign oil corps, despite not having a sophisticated oil extraction industry itself?
- arcticbull 3y agoI believe that kind of behavior explicitly qualifies under 'resource curse.' Even if they hadn't, check out the 'enclave effects' section of the Wikipedia article. > "Oil production generally takes place in an economic enclave, meaning it has few direct effects on the rest of the economy." Venezuela is just one of many examples.