Rentier oil economies and development: Dynamics and varieties

The paper develops a new framework for assessing the performance of oil-based rentier economies (OBREs). First, based on a review of the literature, 12 theses on the functioning of OBREs are formulated. Next, the paper presents an analytical framework which integrates these 12 theses and defines the properties of the oil revenue produced. This allows for the elaboration of a typology of OBREs using four models of reference (original, evolved, nationalized and developmental). This typology is useful in analyzing the dynamics which give rise to a variety of OBREs. Finally, a research agenda is proposed to test the analytical capacity of the typology used for studying issues concerning these oil economies.