An Approach to Social and Economic Assessment of Resource Regime in an Oil and Gas Sector (The Case of the USA)
AbstractThe paper presents an approach to quantitative estimation of socio-economic benefits from oil extraction (in the US). The approach explicitly distinguishes the contribution of non-institutional and institutional factors. Calculations show that in the United States the influence and dynamics of institutional factors are related to steady deterioration of natural conditions of oil extraction. In general, the US resource regime can be called stimulating, as is evidenced by a small proportion of adverse effects due to preservation of residual oil.
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Bibliographic InfoArticle provided by N.P. Redaktsiya zhurnala "Voprosy Economiki" in its journal Voprosy Economiki.
Volume (Year): 10 (2012)
Issue (Month): ()
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Web page: http://www.vopreco.ru/eng/year.html
oil and gas sector; social and economic benefits; USA; resource regime; institutional environment.;
Find related papers by JEL classification:
- Q32 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Exhaustible Resources and Economic Development
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