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.
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A collection exploring how the oil crises of the 1970s impacted upon the international economic order, focusing particularly on their impact on the economy, development and aid in Africa and Asia.
Introduction, Shigeru Akita (Osaka University, Japan)
Part I: Oil Diplomacy and the Cold War
1. The Oil Crises of the 1970s and the Cold War, David Painter (Georgetown
University, USA)
2. The Oil Crises as Fulcrum for the Rise and Fall of the Third World
Project, Dane Kennedy (George Washington University, USA)
3. The Cold War, the 1970s, and the Role of the Asian Development Bank in
Southeast Asia , Hideki Kan (Osaka University, Japan)
Part II: Transformation of International Development Financing
4. Privatisation of International Development Financing: Oil-money, Emerging
Euro-dollar Market and Developing Countries in the 1970s, Ikuto Yamaguchi
(Nara University, Japan)
5. Economic Development through Oil in Malaysia and Singapore: Increased
State Capacity and Formation of the East Asian Oil Triangle, Shigeru Sato
(Tohoku-Gakuin University, Japan)
6. The 1970s macrocycle: Eurodollars, petrodollars, credit booms and debt
busts, 19731982, Mark Metzler (University of Washington, USA)
Part III: The Cold War, Development and AidAsia and Africa
7. Oil for the Lamps of America? Sino-American Oil Diplomacy, 19731979,
Kazushi Minami (Osaka University, Japan)
8. Green Revolution in India, the World Bank and the Oil Crises: Focusing
on Chemical Fertilizer Problems, Shigeru Akita (Osaka University, Japan)
9. Ghana and Kenya facing the 1970s commodity price shocks: the local and the
global, Gareth Austin (University of Cambridge, UK)
Bibliography
Notes
Shigeru Akita is Professor of Global history at Osaka University, Japan. He is the editor of American Empire in Global History (2022) and co-editor with G. Krozewski and Shoichi Watanabe of The Transformation of the International Order of Asia (2015).
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