Oil Crises of the 1970s and the Transformation of International Order

Economy, Development, and Aid in Asia and Africa

Shigeru Akita

• Publisher: Bloomsbury Academic
• Year: 2023
• Print ISBN:
  9781350413801
• Edition: 1
• eBook ISBN:
  9781350413825
• Topic: History
• Subtopic: Economic History
• Index: History

The 1970s are widely seen as a turning point for the world economy and a transformative decade for the international order. This volume explores the role played by the oil crises in this transformation, focusing particularly on their impact in previously little-studied regions such as Asia and Africa.

Examining the intersection between the oil crises and the Third World project, their impact on Asian economic development and the contrasting responses of two African countries, this collection covers new ground on the global and regional effects of the crises, and ties them into the key transformations of the international economy and the Cold War order. Arguing that they were instrumental in reshaping the Asian economies, helping to instigate the boom known as the 'East Asian Miracle', it also demonstrates how the individual responses of countries reflected their own specific circumstances.

With chapters from leading scholars such as David Painter and Dane Kennedy, this book shows how the origins, course and consequences of the oil crises of the 1970s are crucial to understanding the transformation of the international order in the late twentieth century.

Table of contents

• Cover
• Half-Title Page
• Title Page
• Contents
• List of Figures
• List of Tables
• Acknowledgments
• List of Abbreviations
• Introduction
• Part One Oil Diplomacy and the Cold War
• 1 The Oil Crises of the 1970s and the Global Cold War
• 2 The Oil Crises as Fulcrum for the Rise and Fall of the Third World Project
• 3 The Cold War, the 1970s, and the Role of the Asian Development Bank in Southeast Asia
• Part Two Transformation of International Development Financing
• 4 Privatization of International Development Finance: Oil-money, the Emerging Eurodollar Market, and Developing Countries in the 1970s
• 5 Economic Development through Oil in Malaysia and Singapore: Increased State Capacity and Formation of the East Asian Oil Triangle
• 6 The 1970s Macrocycle: Eurodollars, Petrodollars, Credit Booms, and Debt Busts, 1973–82
• Part Three The Cold War, Development, and Aid—Asia and Africa
• 7 The Global Energy Crises and China’s Oil Diplomacy, 1973–83
• 8 India’s Green Revolution, the World Bank, and the Oil Crises in the 1970s—Focusing on Chemical Fertilizers
• 9 Ghana and Kenya Facing the 1970s Commodity Price Shocks: The National and the Global
• Notes on Contributors
• Index
• Copyright