This Paper considers the incentives for foreign direct investment in transformation countries if actual expropriation … threats of complete expropriation and of repeated period-revenue confiscation. The Paper also shows that the timing of efforts …

government cannot commit to abstain from expropriation and the company cannot commit to pay high taxes. Even though …

of economic activity depend on protecting private property from expropriation, but the model predicts this can only be …

mitigate the risk of expropriation by reducing corporate transparency. Lower transparency, in turn, leads to inefficient … that the negative effect of expropriation risk on corporate transparency is stronger for industries that are especially … vulnerable to expropriation, in particular, for industries whose profits are highly correlated with oil prices. Controlling for …