The armed forces champion a form of capitalism that is generating revenue, but its reliance on rent faces diminishing returns, leaving the country with massive sunk costs and deferred returns, deepening dependency on external borrowing.
Yezid Sayigh
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This paper was written for the joint James A. Baker III Institute for Public Policy/Japan Petrolium Energy Center Policy report, The Changing Role of National Oil Companies in International Energy Markets, published by the James A. Baker III Institute for Public Policy.
Click here to read full report. Click here to read more NOC case studies and related research.
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