Azerbaijan After Oil: Has the Country Managed to Avoid the Resource Curse?

Oil wealth has turned Azerbaijan into one of the most financially stable countries in the post-Soviet space. However, the main question of the twenty-first century is no longer how successfully the country has managed its oil revenues, but whether it will be able to transform accumulated capital into a source of long-term development after the end of the oil era. The Paradox of Natural Wealth Intuitively, it seems obvious that states posses...

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