Transparency in oil rich economies

Abstract

Corruption is a huge problem in many developing countries that are rich in oil and other natural resources. It is central in explaining why resource rich countries perform badly in terms of socio-economic development. Transparency has recently been viewed as a key factor in reducing corruption and other dysfunctions in natural resource rich countries. This U4 Issue addresses the relationship between transparency and corruption, with an emphasis on oil rich countries. In particular, it focuses on some of the main corruption related problems caused by limited access to information, using the case of Angola. It also focuses on the approach of current transparency initiatives, such as the Extractive Industries Transparency Initiative (EITI).