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

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.