IDEAS home Printed from https://ideas.repec.org/p/ehl/lserod/123210.html

The political economy of oil production in Latin America

Author

Listed:
  • Manzano, Osmel
  • Monaldi, Francisco

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."
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Manzano, Osmel & Monaldi, Francisco, 2009. "The political economy of oil production in Latin America," LSE Research Online Documents on Economics 123210, London School of Economics and Political Science, LSE Library.
    • Handle: RePEc:ehl:lserod:123210
    as

    Download full text from publisher

    File URL: https://researchonline.lse.ac.uk/id/eprint/123210/
    File Function: Open access version.
    Download Restriction: no
    ---><---

    Other versions of this item:

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. is not listed on IDEAS
    2. Chang, Roberto & Hevia, Constantino & Loayza, Norman, 2018. "Privatization And Nationalization Cycles," Macroeconomic Dynamics, Cambridge University Press, vol. 22(2), pages 331-361, March.
    3. Stan du Plessis, 2011. "Nationalising South African mines: Back to a prosperous future, or down a rabbit hole?," Working Papers 17/2011, Stellenbosch University, Department of Economics.
    4. Müllner, Jakob & Puck, Jonas, 2018. "Towards a holistic framework of MNE–state bargaining: A formal model and case-based analysis," Journal of World Business, Elsevier, vol. 53(1), pages 15-26.
    5. Jaakkola, Niko & Spiro, Daniel & van Benthem, Arthur A., 2019. "Finders, keepers?," Journal of Public Economics, Elsevier, vol. 169(C), pages 17-33.
    6. Osmel Manzano & Jose Luis Saboin, 2021. "Reverse Causality between Oil Policy and Fiscal Policy? The Venezuelan Experience," Energies, MDPI, vol. 14(9), pages 1-20, April.
    7. Gordon H. Hanson, 2010. "Why Isn't Mexico Rich?," Journal of Economic Literature, American Economic Association, vol. 48(4), pages 987-1004, December.
    8. Maurizio Bussolo & Patrizia Luongo, 2020. "The distributive impact of terms of trade shocks: The case of the oil price changes in Russia," Economics of Transition and Institutional Change, John Wiley & Sons, vol. 28(3), pages 487-513, July.
    9. Yeny Esperanza Rodríguez Ramos & John William Rosso Murillo, 2021. "The Profitability of Electricity, Oil, and Gas Utilities in America: An Analysis Focused on Colombia," Revista Facultad de Ciencias Económicas, Universidad Militar Nueva Granada, vol. 29(1), pages 27-48.
    10. Aray, Henry & Vera, David, 2024. "A tale of oil production collapse," Resources Policy, Elsevier, vol. 93(C).
    11. Monaldi, Francisco & Hernández, Igor & La Rosa Reyes, José, 2021. "The collapse of the Venezuelan oil industry: The role of above-ground risks limiting foreign investment," Resources Policy, Elsevier, vol. 72(C).
    12. Juan Carlos Echeverry & Jaime Navas & VerÔøΩnica Navas & MarÔøΩa Paula GÔøΩmez, 2009. "Oil in Colombia: History, Regulation and Macroeconomic Impact," Documentos CEDE 5428, Universidad de los Andes, Facultad de Economía, CEDE.
    13. Gochberg, Will & Menaldo, Victor, 2022. "To rent or not to rent? Mechanics, causes and consequences of Ricardian and Quasi-rents in the oil industry," Resources Policy, Elsevier, vol. 78(C).
    14. Steiner, Roberto, 2014. "Taxation and Economic Growth in Colombia," IDB Publications (Working Papers) 6379, Inter-American Development Bank.
    15. Lucke, Bernd & Rehfeldt, Erik, 2023. "How does expropriation affect FDI? A synthetic control analysis of oil and gas sector nationalizations in South America," European Journal of Political Economy, Elsevier, vol. 80(C).
    16. Collins, Gabe & Jones, Mark P. & Krane, Jim & Medlock, Ken & Monaldi, Francisco, 2021. "Shale Renders the ‘Obsolescing Bargain’ Obsolete: Political risk and foreign investment in Argentina's Vaca Muerta," Resources Policy, Elsevier, vol. 74(C).
    17. Tomás Peruchín, 2025. "Shifting the Bidding Game: Reform of Auction Design for Petroleum Exploration and Production Rights in Argentina," Young Researchers Working Papers 20, Universidad de San Andres, Departamento de Economia, revised Nov 2025.
    18. Smith, James L., 2013. "Issues in extractive resource taxation: A review of research methods and models," Resources Policy, Elsevier, vol. 38(3), pages 320-331.
    19. Beatriz Calzada Olvera, 2014. "The Millennium Development Goals after 2015: A Proposal for 2015-2030," Competence Centre on Money, Trade, Finance and Development 1401, Hochschule fuer Technik und Wirtschaft, Berlin.

    More about this item

    JEL classification:

    • H21 - Public Economics - - Taxation, Subsidies, and Revenue - - - Efficiency; Optimal Taxation
    • Q40 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - General
    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ehl:lserod:123210. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: LSERO Manager (email available below). General contact details of provider: https://edirc.repec.org/data/lsepsuk.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.