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1. Oil and Capital Flight: The Case of Angola

Author:
Nicholas Shaxson
Publication Date:
01-2021
Content Type:
Working Paper
Institution:
Political Economy Research Institute (PERI), University of Massachusetts Amherst
Abstract:
Angola’s “paradox of plenty,” as a country with rich resources and poor development outcomes, makes it ideal for the study of capital flight. With the fifth largest economy in sub-Saharan Africa, the country is known not for what it has done with its vast natural resource endowment, but what it has failed to do with it. The country features prominently in the literature on the ‘resource curse,' as the discovery and exploitation of petroleum has suffocated the development of other economic sectors while profiting the national elite and its foreign partners. This has been accomplished notably through establishment of a powerful parastatal to manage oil, Sonangol, which observers have described as “an island of competence” yet has been instrumental to wealth extraction. Angola’s oil and diamonds also played a critical role in motivating and financing the country’s prolonged and devastating civil war.
Topic:
Development, Oil, Political Economy, Natural Resources, Conflict, and Capital Flight
Political Geography:
Africa and Angola

2. Resource-Backed Loans: Pitfalls and Potentialloan

Author:
David Mihalyi, Aisha Adam, and Jyhjong Hwang
Publication Date:
02-2020
Content Type:
Special Report
Institution:
Natural Resource Governance Institute
Abstract:
Through “resource-backed loans” (RBLs) countries access finance in exchange for, or collateralized by, future streams of income from their natural resource wealth. The authors of this report reviewed countries’ past experiences with RBLs across sub-Saharan Africa and Latin America from 2004 to 2018. They identify risks and opportunities RBLs pose and provide recommendations for countries considering taking RBLs in the future. The researchers identified 52 RBLs, 30 of which were taken by countries in in sub-Saharan Africa and 22 in Latin America. They are distributed across 14 countries in the two regions. Thirty-eight were lent by Chinese policy banks, seven are from commodity traders, four are from other Chinese state-owned enterprises, one is from Korea Exim, one is from Nigeria and one is from Russia's Rosneft. Forty-three of the loans are backed by oil, six by various minerals, two by cocoa, and one by tobacco. The total loan amount represented in the dataset is $164 billion, of which $66 billion went to Africa and $98 billion to Latin America.
Topic:
Natural Resources, Finance, Resource-Backed Loans, and Revenue Management
Political Geography:
Africa, Sudan, Brazil, South America, Venezuela, Nigeria, Angola, Ghana, Ecuador, Guinea, South Sudan, and Congo

3. Climate Change, Carbon Politics, and Kenya’s Democratic Future

Author:
Jacqueline M. Klopp and Abdullahi Boru Halakhe
Publication Date:
10-2019
Content Type:
Special Report
Institution:
Georgetown Journal of International Affairs
Abstract:
Carbon politics is playing out in oil-producing African countries with lethal consequences. Countries like Nigeria, Angola, Sudan, and South Sudan are conflict-ridden and economically unequal, and, as climate change concerns clash with new fossil fuel-driven development efforts, carbon politics is taking on ever-greater significance. While the scramble for fossil fuels could increase authoritarianism as it spreads in East Africa, an ecologically-driven imperative to address climate change could reinforce stronger democratic institutions.
Topic:
Climate Change, Development, Oil, Natural Resources, and Democracy
Political Geography:
Africa, Sudan, Nigeria, Angola, East Africa, and South Sudan

4. Local Content Frameworks in the African Oil and Gas Sector: Lessons from Angola and Chad

Author:
Elijah Dickens Mushemeza and John Okiira
Publication Date:
01-2016
Content Type:
Working Paper
Institution:
Advocates Coalition for Development and Environment (ACODE)
Abstract:
This paper seeks to identify the main characteristics and outcomes of local content frameworks (LCFs) in African oil and gas producing countries. This research is based on the hypothesis that the more specifi c the /CFs, the Eetter the outcomes. 7he study adopts a comparative case study approach based on experiences in seven African countries (Angola, Chad, Equatorial Guinea, Ghana, Nigeria, Tanzania and Uganda) with aim of understanding the broader context and trends. To achieve this objective, a reJional cataloJue of /CFs and practices is developed in order to fi ll the NnoZledJe gap about local content experiences in Africa. The cases of Angola and Chad are explored in greater detail in order to identify additional factors that may shape the outcomes of LCFs. 7he research reveals tZo main fi ndinJs. First, all seven countries in the study have implemented LCFs to promote local employment, skills development and national industry participation. However, only Angola, Ghana and Nigeria have developed specifi c local content policy, leJislation and contracts for the oil and Jas sector. 6econd, there appears to Ee a direct correlation EetZeen specifi city of /CFs and the outcomes achieved. Countries Zith more specifi c /CFs such as AnJola and 1iJeria tend to produce Eetter outcomes Zhile those Zith less specifi c frameZorNs ETuatorial Guinea, Tanzania and Uganda, for example) produce weaker outcomes.
Topic:
Development, Oil, Natural Resources, Gas, and Policymaking
Political Geography:
Africa, Angola, and Chad

5. Africa's Booming Oil and Natural Gas Exploration and Production: National Security Implications for the United States and China

Author:
David E. Brown
Publication Date:
12-2013
Content Type:
Working Paper
Institution:
The Strategic Studies Institute of the U.S. Army War College
Abstract:
The frenetic search for hydrocarbons in Africa has become so intense and wide ranging that there is planned or ongoing oil and gas exploration in at least 51 of the continent's 54 countries. Knowledge about Africa's geology is improving rapidly, generating great optimism about the continent's energy future. Onshore and offshore rifts and basins created when the African continent separated from the Americas and Eurasia 150 million years ago are now recognized as some of the most promising hydrocarbon provinces in the world. Offshore Angola and Brazil, Namibia and Brazil, Ghana and French Guyana, Morocco and Mexico, Somalia and Yemen, and Mozambique and Madagascar are just a few of the geological analogues where large oil fields have been discovered or are be-lieved to lie. One optimistic but quite credible scenario is that future discoveries in Africa will be around five timestheir current level based on what remains un-explored on the continent versus currently known sub-soil assets. If proven true, this could have a pro-foundly positive impact on Africa's future growth and strategic position in the global economy.
Topic:
Economics, Human Rights, and Natural Resources
Political Geography:
Africa, United States, China, America, Eurasia, Asia, Brazil, Yemen, Mozambique, Mexico, Morocco, Somalia, Angola, Ghana, Namibia, Guyana, and Moldavia

6. The Role of the Natural Resource Curse in Preventing Development in Politically Unstable Countries: Case Studies of Angola and Bolivia

Author:
Saraly Andrade and Joaquin Morales
Publication Date:
11-2007
Content Type:
Working Paper
Institution:
Institute for Advanced Development Studies (INESAD)
Abstract:
For about three decades now, development economics researchers have consistently claimed that third world resource-rich countries were not developing as well and/or as fast as they were expected to, given that their natural resources endowment was considered a great opportunity for development. The phenomenon of underperformances concerning primary commodity exporters relative to non resource-rich countries has been often referred to as to the “Natural Resource Curse”. The authors use an historical and political approach to the manifestations of the curse in the specific cases of Angola and Bolivia, both resource abundant countries, but suffering among the lowest development standards in their respective continents. In chapter one, the authors make a quick review of the literature explaining both causes and manifestations of the Resource Curse. The authors go beyond the classical Dutch Disease explanations and show how natural resources lead to behaviours of looting, rent-seeking and civil confrontations. In chapter two, the authors present the framework where they adjust the “African Anti-growth Policy Syndromes” described by Paul Collier to the specific case of the Natural Resource curse. In addition, they add some considerations of the negative effect of natural resource extraction by analysing externalities on environment, education and inequalities. Chapters three and four analyse the case studies of Angola and Bolivia respectively, emphasizing the role of historical context explaining policy behaviour and the critical impact of unexpected windfalls and sudden price collapses. The authors find that natural resources could sustain long lasting conflicts, but that conditions of fractionalization of society determine the possibility of conflict. A country divided in two rigid political factions is more prone to internal conflict, like in Angola, whether in countries where frontiers between blocks are blurried or the country is multi-polar, like in Bolivia, the risks of long-lasting civil war seem less important. Apart from conflict, the authors show that lack of institutions and inequality make of natural resources a source of political instability that has far more impact on economic performances than other factors.
Topic:
Civil War, Development, Natural Resources, and Rent-seeking
Political Geography:
South America, Angola, Bolivia, and Africa