sharing in governance of extractive industries
The State Oil Fund of the Azerbaijan Republic (SOFAZ) was created in 1999 to promote macroeconomic stability, preserve oil revenues for future generations and channel Azerbaijan’s resource wealth into more productive assets.
However, SOFAZ’s contribution to effective resource revenue management and long-term economic development remains questionable: transparency applies only to the…Continue
Oil booms are often described as causing more problems than they solve, bringing wealth to the privileged few while visiting corrupt practices, social inequity and even civil war upon the general population. The recurrence of this scenario gave rise to the 'resource curse' theory, which…Continue