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The Political Economy of Oil Production in Latin America

Osmel Manzano () and Francisco Monaldi ()

Economía Journal, 2008, vol. Volume 9 Number 1, issue Fall 2008, 59-103

Abstract: "This paper studies the cycles of investment and expropriation in the contextof the Latin American oil sector. In particular, it provides an explanationfor the state´s difficulties in capturing the oil rents and rationalizes the tendencyof governments to periodically renege on their prior agreements pursuingthe quasi-rents. The paper does not try to provide a general proposal forthe right fiscal and contractual structure, however, as the right structure mustbe tailored to each country."

Keywords: Oil industry; expropiation; invesment; taxation; Latin America (search for similar items in EconPapers)
JEL-codes: H21 Q40 Q48 (search for similar items in EconPapers)
Date: 2008
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