Natural Resources: Transnational Capital, Constitutionalism and Environmental Harms

Balihar Sanghera () and Elmira Satybaldieva ()
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Balihar Sanghera: University of Kent
Elmira Satybaldieva: University of Kent

Chapter Chapter 6 in Rentier Capitalism and Its Discontents, 2021, pp 119-145 from Springer

Abstract: Abstract This chapter examines how legal and judicial mechanisms of governance promoted and protected transnational energy and mineral corporations’ freedoms and property rights in Central Asia. After the collapse of the Soviet Union, most investors signed favourable contracts with host states, stipulating how production, costs, revenues and profits would be shared, and what, when and how much royalties, taxes, fees and penalties would be paid. Transnational corporations and host states are rentiers, extracting income based on the ownership and control of natural resources. The neoliberal regime of investment rules secured and defended investors’ rights and contracts at the expense of equitable and sustainable development. The chapter also discusses how legal and judicial structures constrained democratic forces, prioritising investors’ rights over people’s well-being.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-76303-9_6

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DOI: 10.1007/978-3-030-76303-9_6

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