Rio de Janeiro and petrodependence: curse or opportunity for economic development?

Abstract

The aim of this paper is to analyze the institutional-regulatory framework directed at the oil and natural gas industry in Rio de Janeiro, since 2016 and its contributions to regional economic development based on the literature of the curse of natural resources. This is an applied and descriptive study based on the use of indirect documentation techniques such as bibliographical and documentary research. The results obtained show that attracting investment to the state of Rio de Janeiro (ERJ) with a view to increasing production, employment and income levels has had limited results, ratifying Rio de Janeiro's pattern of specialization in natural resources as an enclave and reinforcing the thesis of the curse of natural resources. Although recent developments suggest that the executive and legislative branches are more concerned with shaping a new path of economic opportunities, the conclusion is that national and regional policies need to be articulated in order to stimulate the cooperative behavior of economic agents from a long-term perspective, avoiding those of a rentier nature with a short-term bias that hold the population hostage to the curse.