Corruption in the regulation of the oil industry is often referred to as pervasive. It is also considered to be an important element of the ‘resource curse’, whereby resource-rich countries fail to draw welfare benefits from their natural resources. Theories of the ‘resource curse’ are important in understanding the underlying challenges facing oil rich countries. Our understanding of how corruption actually influences important decisions in the oil industry is nevertheless limited and policy makers have only imprecise information on the most important areas of risk. This U4 Issue Paper offers an initial exploration of the topic of grand corruption in the regulation of oil. We focus on how and why corruption can distort or prevent efficient regulation of the oil sector, and suggest that, though voluntary initiatives and capacity building programmes are important for addressing corruption, they should not replace establishment of formal state-sponsored regulations. The paper is part of the project ‘Corruption in Natural Resource Management’ at the U4 Anti-Corruption Resource Centre:

Fuente: Anti-corruption Resource Centre – U4

Año: 2008

Idioma: Inglés