Caspian Oil windfalls: Who will benefit?

This report examines the impact of the resource curse on Azerbaijan and Kazakhstan and the growing importance of the Caspian sea countries in supplying oil and natural gas to the west. The report calls for greater transparency and public oversight over the payment and receipt of natural resource revenues in light of the negative impact that corruption and revenue mismanagement had on the two countries’ development paths. The report also analyses several successful oil funds, namely in Alaska and Norway, where natural resource revenues have been used to promote economic growth and development.

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