A re-conceptualisation of the widely-held concept of the 'resource curse', which contends that resource booms inevitably lead to numerous political, social and economic problems. This book counters that these problems are by no means inevitable, but are rather the direct result of specific policy choices made by actors within particular regimes.

Challenges the widely-held notion of the 'resource-curse', which states that resource booms lead to a quagmire of corruption, inefficiency and social inequity in the countries which they occur

Introduction; A.Heinrich PART I: THEORIES AND CONCEPTS The Rentier State; T.Richter The 'Slippery Slopes' Theory; I.Overland Neopatrimonialism: Concept or Metaphor? G.Erdmann Patron-Client Relations; A.Heinemann-Gruder PART II: PATTERNS OF ELITE INTERACTION AND POLICY-MAKING IN THE ENERGY SECTOR Political Elites in Kazakhstan; T.Umbetalieva & D.Satpaev Kinship and the State in Kazakhstan's Political Economy; E.SchatzThe Role of the Oil Elite in Policy-Making in Kazakhstan; J.KusznirPolitical Elites in Azerbaijan; F.GuliyevThe Role of the Oil Elite in Policy-Making in Azerbaijan ; H.Meissner Politics and the Energy Sector in Turkmenistan; M.Denison PART III: REGULATION OF PROPERTY RIGHTS AND INVESTMENT Foreign Direct Investors and National Politics; B.Brauer Regulating Property and Exploitation Rights of Natural Resources; C.Nygaard National Oil Companies and the State; H.Kjaernet The Role of Corruption in the Governance of the Oil and Gas Industry; H.Pleines PART IV: SPENDING THE PETRO DOLLARS The National Fund of the Republic of Kazakhstan; Y.Kalyuzhnova Managing the State Oil Fund in Azerbaijan; K.Aslanli Providing Welfare in post-Soviet Rentier States; A.Franke Conclusion; A.Heinrich & H.Pleines