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A neoinstitutionalist interpretation of the changes in the Russian oil model

  • Locatelli, Catherine
  • Rossiaud, Sylvain
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    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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    File URL: http://www.sciencedirect.com/science/article/pii/S0301421511003363
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    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
    Contact details of provider: Web page: http://www.elsevier.com/locate/enpol

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    1. Dani Rodrik, 2008. "Second-Best Institutions," NBER Working Papers 14050, National Bureau of Economic Research, Inc.
    2. 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.
    3. Joseph E. Stiglitz, 2002. "Information and the Change in the Paradigm in Economics," American Economic Review, American Economic Association, vol. 92(3), pages 460-501, June.
    4. 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.
    5. Avinash Dixit, 2009. "Governance Institutions and Economic Activity," American Economic Review, American Economic Association, vol. 99(1), pages 5-24, March.
    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, 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.
    8. 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.
    9. 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.
    10. 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.
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