The oil boom in Equatorial Guinea
Author: Frynas, Jędrzej George
Source: African Affairs, Volume 103, Number 413, October 2004 , pp. 527-546(20)
Publisher: Oxford University Press
Abstract:In less than a decade, Equatorial Guinea has transformed itself from an African backwater into one of the world’s fastest growing economies and a sought-after political partner in the Gulf of Guinea. The sole reason for this transformation has been the discovery of oil and gas. This article outlines the rise of Equatorial Guinea as one of Africa’s leading oilproducing countries and investigates the political, economic and social effects of becoming a petro-state. The article is based on the author’s field research in Equatorial Guinea in the autumn of 2003 and interviews with senior oil company staff, government officials and staff of international organizations as well as secondary sources. This research demonstrates how reliance on oil and gas exports can lead to profound changes in a country’s political economy.
Document Type: Research Article
Publication date: 2004-10-01
- African Affairs is published on behalf of the Royal African Society. It publishes articles on recent political, social and economic developments in sub-Saharan countries. Also included are historical studies that illuminate current events in the continent.