While many herald globalization - the increasing interconnectedness of national economies - to be associated with rising standards of living across the globe, others fear its effects on sustainability. Anti-globalization forces and environmentalists view these developments as a threat to the...

We investigate the role of oil wealth in economic institutions for a sample of 150 countries between 1960 and 2014. We find that higher levels of oil wealth result in weak economic institutions in the form of low levels of private property rights protection. This result is robust to alternative...