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State governance evolution in resource-rich transition economies: An application to Russia and Kazakhstan

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  • Kalyuzhnova, Yelena
  • Nygaard, Christian
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    Abstract

    Following a decade of transition in the Former Soviet Union (FSU), governance of the oil and gas sectors has evolved to economic nationalism. In the newly independent states this has manifested itself through greater (direct) state ownership or participation in oil and gas production, at the expense of both domestic (in the case of Russia) and international oil companies, as well as legislative developments that increase the flow of oil and gas value to the state. Here we analyse some of the dynamics giving rise to economic nationalism within a model of a state capacity and the ability to implement policy and extract value. Our analysis is based on the institutional and economic functioning of the oil and gas sector. We analyse a vector of institutions and examine Production Sharing Agreements and National Oil Companies.

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    Bibliographic Info

    Article provided by Elsevier in its journal Energy Policy.

    Volume (Year): 36 (2008)
    Issue (Month): 6 (June)
    Pages: 1829-1842

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    Handle: RePEc:eee:enepol:v:36:y:2008:i:6:p:1829-1842

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    Web page: http://www.elsevier.com/locate/enpol

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    References

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    9. Abdulaziz Al-Attar & Osamah Alomair, 2005. "Evaluation of upstream petroleum agreements and exploration and production costs," OPEC Energy Review, Organization of the Petroleum Exporting Countries, vol. 29(4), pages 243-266, December.
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    12. Rudiger Ahrend & William Tompson, 2006. "Realising the Oil Supply Potential of the CIS: The Impact of Institutions and Policies," OECD Economics Department Working Papers 484, OECD Publishing.
    13. Yelena Kalyuzhnova & Maria Vagliasindi & Mark Casson, 2003. "Recent Developments in the Short-term Employment in Kazakhstani Firms," Comparative Economic Studies, Palgrave Macmillan, vol. 45(4), pages 466-492, December.
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    Cited by:
    1. Arazmuradov, Annageldy, 2011. "Foreign aid, foreign direct investment and domestic investment nexus in landlocked economies of Central Asia," MPRA Paper 36881, University Library of Munich, Germany, revised 23 Feb 2012.
    2. Sun, Xiaolei & Li, Jianping & Tang, Ling & Wu, Dengsheng, 2012. "Identifying the risk-return tradeoff and exploring the dynamic risk exposure of country portfolio of the FSU's oil economies," Economic Modelling, Elsevier, vol. 29(6), pages 2494-2503.
    3. Sabiroglu, Ilkin M. & Bashirli, Samad, 2012. "Input–output analysis in an oil-rich economy: The case of Azerbaijan," Resources Policy, Elsevier, vol. 37(1), pages 73-80.
    4. Kalyuzhnova, Yelena & Nygaard, Christian, 2009. "Resource nationalism and credit growth in FSU countries," Energy Policy, Elsevier, vol. 37(11), pages 4700-4710, November.
    5. Richard Pomfret, 2011. "Exploiting Energy and Mineral Resources in Central Asia, Azerbaijan and Mongolia," Comparative Economic Studies, Palgrave Macmillan, vol. 53(1), pages 5-33, March.
    6. Sylvain Rossiaud & Catherine Locatelli, 2009. "The obstacles in the way of stabilizing the russian oil model," Post-Print halshs-00321227, HAL.

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