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"This paper studies the cycles of nationalization and privatization in resource-rich economies. We discuss available evidence on the drivers and consequences of privatization and nationalization, review the existing literature, and present illustrative case studies. Our main contribution is then...
Persistent link: https://www.econbiz.de/10011394323
This paper studies the cycles of nationalization and privatization in resource-rich economies. We discuss available evidence on the drivers and consequences of privatization and nationalization, review the existing literature, and present illustrative case studies. Our main contribution is then...
Persistent link: https://www.econbiz.de/10012462530
One of the surprising features of modern economic growth is that economies with abundant natural resources have tended to grow less rapidly than natural-resource-scarce economies. In this paper we show that economies with a high ratio of natural resource exports to GDP in 1971 (the base year)...
Persistent link: https://www.econbiz.de/10012473469
The "fairness" of negotiations between countries and resource extracting firms is subject to many accusations and counter-accusations and may be argued, in many instances, to impact the subsequent economic benefit to a host country from extraction. This paper examines the role of host country...
Persistent link: https://www.econbiz.de/10012465320
Persistent link: https://www.econbiz.de/10001481180
We study theoretically and empirically whether natural resource windfalls affect political regimes. We document the following regularities. Natural resource windfalls have no effect on the political system when they occur in democracies. However, windfalls have significant political consequences...
Persistent link: https://www.econbiz.de/10012461056
Policies to address environmental and natural resource management are often implemented at the group level. The defining feature of such policies is that penalties or rewards are based on group rather than individual performance, or rights are allocated to a group rather than to individuals....
Persistent link: https://www.econbiz.de/10012481725
sub-standard economic performance. They are: long-term trends in world commodity prices, volatility, crowding out of …
Persistent link: https://www.econbiz.de/10012462796
The government contracts with a foreign firm to extract a natural resource that requires an upfront investment and which faces price uncertainty. In states where profits are high, there is a likelihood of expropriation, which generates a social cost that increases with the expropriated value. In...
Persistent link: https://www.econbiz.de/10012464906
We study how the strength of property rights to individual extractive firms affects a regulator's choice over exploitation rates for a natural resource. The regulator is modeled as an intermediary between current and future resource harvesters, rather than between producers and consumers, as in...
Persistent link: https://www.econbiz.de/10012457807