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 … determinants of the observed cycles of privatization and nationalization, and is consistent with a variety of observed phenomena …

contracting friction is a lack of commitment regarding foreign debt and expropriation. We show that the political economy …

expropriation by the state. Regions facing a greater threat of expropriation exhibit more prevalent waqf land and Islamic …

which faces price uncertainty. In states where profits are high, there is a likelihood of expropriation, which generates a … with high probability of expropriation. The contract can be implemented via a competitive auction with reasonable …

This paper develops a theory of capital movements in the presence of potential expropriation. The threat of … expropriation is derived from utility maximizing behavior by host countries. Potential investors, anticipating this behavior, modify … their investment plans to avoid expropriation. When- ever the host country faces competitive foreign investors expropriation …