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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:The Oil Boom in Equatorial Guinea
Author:Frynas, Jedrzej G.
Periodical:African affairs: the journal of the Royal African Society
Geographic term:Equatorial Guinea
Subjects:economic boom
Agriculture, Natural Resources and the Environment
Economics and Trade
Development and Technology
Politics and Government
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 oil-producing 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. Notes, ref., sum. [Journal abstract]