Format:
XIV, 519 S.
,
graph. Darst.
,
24 cm
ISBN:
9780262013796
Content:
"Volatility in commodity prices has been accompanied by perpetual renegotiation of contracts between private investors in natural resource production and the governments of states with mineral and energy wealth. When prices skyrocket, governments want a larger share of revenues, sometimes to the point of nationalization or expropriation; when prices fall, larger state participation becomes a burden and the private sector is called back in. Recent and newsworthy changes in the price of oil (which fell from an all-time high of $147 in mid-2008 to $40 by year's end) are notable for their speed and the steepness of their rise and fall, but the up-and-down pattern itself is not unusual. If the unpredictability of commodity prices is so predictable, why do contracts not allow for this with mechanisms that would provide a more stable commercial framework?
Note:
Includes bibliographical references and index
,
1 Contracts and Investment in Natural Resources -- 2 Petroleum Contracts: What Does Contract Theory Tell Us? -- 3 Sovereign Theft: Theory and Evidence about Sovereign Default and Expropriation -- 4 A Resource Belief Curse? Oil and Individualism -- 5 Optimal Resource Extraction Contracts under Threat of Expropriation -- 6 Denying the Temptation to GRAB -- 7 Dealing with Expropriations: General Guidelines for Oil Production Contracts -- 8 Pricing Expropriation Risk in Natural Resource Contracts: A Real Options Approach -- 9 Credibility, Commitment, and Regulation: Ex Ante Price Caps and Ex Post Interventions -- 10 Hydrocarbon Policy, Shocks, and the Collective Imagination: What Went Wrong in Bolivia? -- 11 Urgency and Betrayal: Three Attempts to Foster Private Investment in Argentina's Oil Industry -- 12 The Political Economy of Oil Contract Renegotiation in Venezuela
Language:
English
Subjects:
Agriculture, Forestry, Horticulture, Fishery, Domestic Science
Keywords:
Natürliche Ressourcen
;
Rohstoffwirtschaft
;
Ressourcenpolitik
;
Public Private Partnership
;
Direktinvestition
;
Aufsatzsammlung
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