Introduction

Less than a decade ago, Equatorial Guinea was classified as one of the least developed countries in the world. Oil and gas discoveries since 1995 have propelled Equatorial Guinea into one of the fastest growing economies in the world. Despite generous contracts favoring oil companies, oil revenues have been quite substantial for this small economy. Unfortunately, these revenues have not translated into the country's development. There is strong evidence that oil revenues have been misappropriated by the governing elite. Recently, the government has professed interest in improving ...