Since the beginning of the 2000s, a literature suggesting that development is an achievable goal for African
states has emerged. Arguments like those that consider ‘neo-patrimonialism’ as an insurmountable obstacle
to development have been cast-off in case states embark to re-invest rents in a long-term strategy (Khan
and Sundaram 2000; Mkandawire 2001). This paper focuses on Angola, and it tries to determine whether
oil rents have been so far employed according to a developmental strategy or for short-term consumption. It
further argues that short-term consumption was initially encouraged and tolerated as part of an effort after
the end of the civil war (2002) to foster elite cohesion, and it was later on demoted when the government
adopted a comprehensive long-term development strategic vision, in 2007. However, the financial crisis of
2007-08 and the recent drop of oil prices have badly impacted on this strategy. As a result, the government
is growingly turning to Chinese aid trying to keep the mismanagement of strategic resources under control.
