Caspian Oil Windfalls: Who Will Benefit?

Abstract

Caspian Oil Windfalls: Who Will Benefit?, a publication from the Central Eurasia Project's Caspian Revenue Watch, calls for greater accountability, transparency, and public oversight in the oil and natural gas industries of Azerbaijan and Kazakhstan. It urges foreign oil companies, their home governments, and international financial institutions to promote good governance and democracy in both countries to ensure that petroleum revenues generate social prosperity and stable governments. Written by Svetlana Tsalik, director of the Caspian Revenue Watch, the report also offers recommendations based on in-depth analysis of natural resource funds in other nations as well as models of citizen oversight. The foreword was written by Joseph E. Stiglitz, the former chief economist of the World Bank and winner of the 2001 Nobel Prize in economics.

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