Publication

This monograph explores the impact that oil revenue had on the national defense spending of five oil-exporting countries. Despite periods of falling oil revenues, these countries typically did not lower defense spending. In some cases, defense spending increased sharply, or the rate of decrease was much lower than the drop in oil revenues. This condition creates challenges for national security professionals. A more complex picture emerges that forces analysts and policymakers to search more broadly for options to stem potential arms races that may be fueled by the riches of oil-exporting countries.