This paper examines the effects of OPEC membership on economic development. Using the theory of transaction cost … economics (TCE), we show that OPEC satisfies the characteristics of a hybrid organisation under TCE. Thus, membership in OPEC … countries because of information asymmetries among regulatory authorities and firms. We also posit that membership in OPEC can …

-type strategy, more precisely, adjusting its output. This investigation is motivated by the decisions of OPEC to adjust its output …, small and large. Moreover, it makes a difference in such a setting whether OPEC plays in prices (as it did up to 1985) or in … accounting for all necessary caveats, suggests that OPEC may not be a perfect cartel but even assuming that OPEC behaves like a …

particular, this would affect OPEC-countries with high energy reserves: Saudi Arabia, Iran and Iraq which cannot realize their …OPEC countries has benefited from the increase of oil prices in the past few years. Except the worldwide crisis 2008 …/2009 the demand of oil from OPEC countries was high stabilizing the cohesion within the OPEC. However, this might change in the …

in late November 2014 OPEC announced that it would maintain current production levels despite the steady increase in non-OPEC …

November 2014 OPEC announced that it would maintain current production levels despite the steady increase in non-OPEC oil …

during 1975–2011, focusing on potential differences between OPEC and non-OPEC countries. The goal is to derive consistent … average over the sample period, OPEC members seem to curtail production in response to a speculative demand shock, whereas non-OPEC …