Эксоцман
на главную поиск contacts

Determinants of Expropriation in the Oil Sector: A Theory and Evidence from Panel Data

русская версия

Опубликовано на портале: 31-12-2010
Экономический журнал ВШЭ. 2008.  Т. 12. № 2. С. 151-175. 
In this paper we study nationalizations in the oil industry around the world in 1960–2002. We show, both theoretically and empirically, that governments are more likely to nationalize when oil prices are high and when political institutions are weak. We consider a simple dynamic model of the interaction between a government and a foreign oil company. The government cannot commit to abstain from expropriation and the company cannot commit to pay high taxes. Even though nationalization is inefficient it does occur in equilibrium when oil prices are high. The model's predictions are consistent with the panel analysis of a comprehensive dataset on nationalizations in the oil industry since 1960. Nationalization is more likely to happen when oil prices are high and the quality of institutions is low even when controlling for country fixed effects.
BiBTeX
RIS
Ключевые слова

См. также:
Татьяна Евгеньевна Хавенсон, Юлия Алексеевна Тюменева
Социология: методология, методы и математическое моделирование (Социология: 4М). 2012.  № 35.
[Статья]
Russell Davidson, James G. MacKinnon
Oxford Bulletin of Economics and Statistics. 1988.  Vol. 50. No. 2. P. 203-218. 
[Статья]
Fabio Padovano, Emma Galli
Economic Inquiry. 2001.  No. 39. P. 44-57. 
[Статья]
Robert L. Brown, J. Durbin, J. M. Evans
Journal of the Royal Statistical Society. Series B (Methodological). 1975.  Vol. 37. No. 2. P. 149-192. 
[Статья]
Bruce L. Bowerman, Richard T. O'Connell
[Книга]
Андрей Валерьевич Лукашов
[Статья]
Марина Анатольевна Можина, Лилия Николаевна Овчарова, Н.Е. Авдушева, Ирина Ильинична Елисеева, В.И. Гришанов, Ирина Ивановна Корчагина, Н.М. Павлова, Лидия Михайловна Прокофьева, Р.И. Попова, Майраш Сейтказыевна Токсанбаева, Евгений Владимирович Турунцев, А. Маколи
[Книга]