Why Azerbaijan Is Getting Poorer Despite An Oil Revolution (2000)

All the President's Oil (2001): After the fall of the Soviet Union, millions poured into Azerbaijan's oil industry. But only a select few reaped the rewards. Presented by Marcel Theroux.

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The oil-rich Azerbaijan ought to be a text book example of the benefits of globalisation.  Multinationals from across the globe have poured in cash to exploit its oil wealth, and now a tidal wave of money is hitting Azerbaijan.  But who are the winners?  The oil companies of course – but the comfortable contemporary wisdom says that riches will also trickle down to the whole Azeri population, creating a contented, prosperous nation at the centre of a troublesome region that includes Iran and Russia.  But it isn’t happening.  Forget the cosy platitudes of globalisation.  Think corruption, nepotism, despotism, war lords…

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