By Januarius Asongu
Beginning with the question as to whether natural resources are a blessing or a curse, this paper analyzes the political economy of oil in Equatorial Guinea. It explores the country’s recent history and experience with oil-led development, arguing that the responsibility for its development lies in the hands of its leaders. The paper further places the EquatoGuinean experience within the framework of the resource curse. This framework shows that there is a link between...