{"product_id":"2940148581468","title":"DO OIL EXPORTS FUEL DEFENSE SPENDING?","description":"Economic power allows nations to influence events\u003cbr\u003ewithin and outside their borders. In today’s globalized\u003cbr\u003eworld, many countries that export manufactured\u003cbr\u003egoods, provide services, supply financial credit, and\u003cbr\u003econtrol vital raw materials have the ability to\u003cbr\u003esignificantly affect their economic well-being. Those\u003cbr\u003ecountries can wield their financial resources to improve\u003cbr\u003ethe condition of their citizens and neighbors or threaten\u003cbr\u003ea region through the development of a large military\u003cbr\u003eor security capability. Oil is the lifeblood of the world\u003cbr\u003eeconomy. For the past decades, oil-exporting countries\u003cbr\u003ehave experienced great economic gains due to the\u003cbr\u003eworld’s hunger for petroleum. Undoubtedly, oil profits\u003cbr\u003eallow some nations to acquire advanced weapons\u003cbr\u003esystems or develop internal security programs. When\u003cbr\u003eeconomic conditions worsen and oil revenues fall, logic\u003cbr\u003eargues that with reduced profits defense spending\u003cbr\u003eshould shrink.\u003cbr\u003eThis monograph explores the impact that oil\u003cbr\u003erevenue had on the national defense spending of five\u003cbr\u003eoil-exporting countries. Despite periods of falling\u003cbr\u003eoil revenues, these countries typically did not lower\u003cbr\u003edefense spending. In some cases, defense spending\u003cbr\u003eincreased sharply, or the rate of decrease was much\u003cbr\u003elower than the drop in oil revenues. This condition\u003cbr\u003ecreates challenges for national security professionals.\u003cbr\u003eIf nations face falling oil revenues and still have the\u003cbr\u003ewill and ability to expand their military or security\u003cbr\u003ecapabilities, then they might do so through the\u003cbr\u003esacrifice of domestic spending or regional stability.\u003cbr\u003eEconomic sanctions, worldwide recession, or falling oil\u003cbr\u003edemand may not stop these oil-exporting nations from\u003cbr\u003epurchasing weapons and creating large security forces.\u003cbr\u003eAlthough oil might have been a key to provide past or\u003cbr\u003efuture earnings expectations to fund defense, perhaps\u003cbr\u003ethere are other reasons why nations want relatively high\u003cbr\u003edefense spending levels despite lower oil revenue. The\u003cbr\u003epolitics of oil and its impact on government control,\u003cbr\u003eregional threats, national interests, and other strategic\u003cbr\u003efactors may explain why these nations pursue defense\u003cbr\u003espending despite falling oil revenue.\u003cbr\u003ePolicies that attempt to limit oil revenues of potential\u003cbr\u003eenemies alone may not be sufficient to inhibit them\u003cbr\u003efrom creating regional instability through expansion of\u003cbr\u003etheir defense capabilities. Hopes for reduced defense\u003cbr\u003eexpenditures, by countries like Iran, as a result of a\u003cbr\u003edrop in energy demand seem to be diminished by these\u003cbr\u003efindings. A more complex picture emerges that forces\u003cbr\u003eanalysts and policymakers to search more broadly for\u003cbr\u003eoptions to stem potential arms races that may be fueled\u003cbr\u003eby the riches of oil-exporting countries.","brand":"ReadCycle","offers":[{"title":"Default Title","offer_id":47072689160432,"sku":"2940148581468","price":2.99,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0737\/7593\/9824\/files\/2940148581468_p0.jpg?v=1763704522","url":"https:\/\/shop-qa.barnesandnoble.com\/products\/2940148581468","provider":"Barnes \u0026 Noble (DEV)","version":"1.0","type":"link"}