Because of a long time frame, irreversible and specific investments, incomplete contracts andpolitical constraints, it is generally difficult for governments to commit themselves in a credibleway to a fixed petroleum tax regime. Many controversial renegotiations and tightenings of suchsystems...

Theories of irreversible investment suggest a negative relation between investment and uncertainty,and non-linear adjustment costs open for asymmetries in the adjustment of fixed capital. We proposean econometric modelling approach to estimate and test the key predictions of modern...

Topical issues in petroleum tax design are in this chapter discussed by means of a tax model for anet income tax system (Norway) and a representative PSA regime. We analyse the entire lifecycle of a typical petroleum project, i.e., the exploration decision is included. Many petroleumtax systems...

Shortages of rigs and personnel have encouraged creativity in designing incentive contracts in thedrilling sector. In particular for oil service contracts, since those companies have the most directcontrol of drilling efficiency. A large variety of contract types are in use, including within...

The oil companies are concerned to replace the petroleum reserves they producein order to maintain their future level of activity. Booked reserves alsorepresent an important input when analysts value these companies. Many producercountries want to control their own resources, a goal which can...

The international transactions accounts provide information on trade in goods and services (including the balance of payments and the balance of trade), investment income, and government and private financial flows. In addition, the accounts measure the value of U.S. international assets and...

Vor dem Hintergrund des oft vernachlässigten industriellen Umweltschutzes in Entwicklungsländern entwickelt das Pilotvorhaben zur Unterstützung umweltorientierter Unternehmensführung in Entwicklungsländern (P3U) der Deutschen Gesellschaft für Technische Zusammenarbeit (GTZ) das Instrument...

Malnutrition and food deprivation, which are concentrated in poor countries, have been along-term concern of economists, but as per capita income in developed countries has grown in the20th century, a new problem of over-nutrition leading to obesity has occurred. This paper developsmodels of...

The paper explores the determinants of up-front fees on sovereign bank loans.Remuneration of bank loans is typically channelled through the floating interestbenchmark, the interest spread, and a battery of fees. There is substantial evidence of thespread paying for long-run sovereign repayment...

Individuals and business owners engage in an increasingly complex array of financialdecisions that are critical for their success and well-being. Yet a growing literature documentsthat in both developed and developing countries, a large fraction of the population is unpreparedto make these...