Publication at Faculty of Social Sciences, Faculty of Mathematics and Physics, Centre for Economic Research and Graduate Education |
2005
Abstract
OPEC’s stated mission is to promote the economic development and growth of its member states while minimizing volatility in the oil markets. But after a promising beginning many member states’ economies have declined rather than prospered - a clear indication of OPEC’s failure to meet their development goals.
Thus, we ask if a resource cartel can achieve the joint goals of development and resource market stability