We investigate the potential for statistical forecasting of aggregate oil and gas investment on the Norwegian … random walk benchmark in an out-of-sample environment. Second, lags of investment growth, crude oil price growth and realized … volatility is found to be adequate predictors for the investment growth. Finally, there is a clear benefit from re-estimating the …

applied to relate their allowed revenues (revenue cap) to cost efficiency and investment. Incentive regulation varies cross … on firms’ investment. The panel data model includes common time-varying factors to control firm heterogeneity. The cross …-section dependence test is further employed to test the relationship between investment and revenue cap in different regulation regimes …

analysis further identifies sources of financing in these subsectors and discusses future investment and financing challenges …