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Natural Resources: Transnational Capital, Constitutionalism and Environmental Harms

In: Rentier Capitalism and Its Discontents

Author

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  • Balihar Sanghera

    (University of Kent)

  • Elmira Satybaldieva

    (University of Kent)

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.

Suggested Citation

  • Balihar Sanghera & Elmira Satybaldieva, 2021. "Natural Resources: Transnational Capital, Constitutionalism and Environmental Harms," Springer Books, in: Rentier Capitalism and Its Discontents, chapter 0, pages 119-145, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-76303-9_6
    DOI: 10.1007/978-3-030-76303-9_6
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