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African Affairs 2004 103(413):547-567; doi:10.1093/afraf/adh084
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© Royal African Society 2004, all rights reserved

Article

Business and politics in a criminal state: the case of Equatorial Guinea

Geoffrey Wood

Geoffrey Wood is Professor, Middlesex University Business School, Middlesex University, London

Abstract

This article assesses the changing nature of the contemporary political economy of Equatorial Guinea. It provides an overview of the complex and dynamic web of elite rent-generation and explores the extent to which the development of an oil industry has contributed to a monoculture of accumulation. It is concluded that, despite the oil windfall, other, ‘illicit’, modes of elite rent-generation persist and have even intensified.


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