This thesis makes two unique contributions to the International Political Economy literature. It presents the first comprehensive, empirical investigation of petrodollar accumulation and recycling spanning the period 1980-2021. It also corrects the misconception that petrodollar recycling in the...

In a first step, more generally, the concept of institutional arbitrage within the comparative capitalism literature is put to a test: as a result of comparative institutional advantages due to different investment incentives provided by types of institutions, companies relocate activities to...