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A neoinstitutionalist interpretation of the changes in the Russian oil model

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  • Locatelli, Catherine
  • Rossiaud, Sylvain
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    Abstract

    This paper deals with the current change of the institutional and organizational framework of the Russian oil industry. Regarding this evolution, the main characteristic is the increasing involvement of national oil companies in the upstream activities. The point is to explain this reorganization by relying on the New Institutional Economics framework. These theoretical works highlight that institutional environment and governance structures complement each other. We argue that the current reorganization in an attempt to increase the coherence of the institutional arrangement governing the transaction between the Russian state and the private oil companies.

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    Bibliographic Info

    Article provided by Elsevier in its journal Energy Policy.

    Volume (Year): 39 (2011)
    Issue (Month): 9 (September)
    Pages: 5588-5597

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    Handle: RePEc:eee:enepol:v:39:y:2011:i:9:p:5588-5597

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

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    Keywords: Russia Oil industry Institutional coherence;

    References

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    1. Avinash Dixit, 2009. "Governance Institutions and Economic Activity," American Economic Review, American Economic Association, vol. 99(1), pages 5-24, March.
    2. Rodrik, Dani, 2008. "Second-Best Institutions," CEPR Discussion Papers 6764, C.E.P.R. Discussion Papers.
    3. Deacon, Robert & Mueller, Bernardo, 2004. "Political Economy and Natural Resource Use," University of California at Santa Barbara, Economics Working Paper Series qt68g1n1v8, Department of Economics, UC Santa Barbara.
    4. Paul Vandenberg, 2002. "North's institutionalism and the prospect of combining theoretical approaches," Cambridge Journal of Economics, Oxford University Press, vol. 26(2), pages 217-235, March.
    5. Stiglitz, Joseph E., 2001. "Information and the Change in the Paradigm in Economics," Nobel Prize in Economics documents 2001-8, Nobel Prize Committee.
    6. Oliver E. Williamson, 2005. "The Economics of Governance," American Economic Review, American Economic Association, vol. 95(2), pages 1-18, May.
    7. Brousseau, Eric & Glachant, Jean-Michel, 2002. "The Economics of Contracts and the Renewal of Economics," Economics Papers from University Paris Dauphine 123456789/12332, Paris Dauphine University.
    8. Brousseau, Eric, 2008. "Contracts: From Bilateral Sets of Incentives to the Multi-level Governance of Relations," Economics Papers from University Paris Dauphine 123456789/12342, Paris Dauphine University.
    9. Catherine Locatelli, 2001. "Transition économique et modèles d'organisation industrielle : le cas de l'industrie pétrolière Russe," Revue d'Économie Industrielle, Programme National Persée, vol. 96(1), pages 29-54.
    10. Oliver E. Williamson, 2000. "The New Institutional Economics: Taking Stock, Looking Ahead," Journal of Economic Literature, American Economic Association, vol. 38(3), pages 595-613, September.
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    Cited by:
    1. Libman, Alexander, 2013. "Natural resources and sub-national economic performance: Does sub-national democracy matter?," Energy Economics, Elsevier, vol. 37(C), pages 82-99.

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