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Credibility, Commitment, and Regulation: Ex Ante Price Caps and Ex Post Interventions IN The Natural Resources Trap Private Investment without Public Commitment Edited by William Hogan and Federico Sturzenegger

1st July 2010 publication

The Natural Resources Trap
Private Investment without Public Commitment
Edited by William Hogan and Federico Sturzenegger

	List of Contributors Sample Chapter - Download PDF (36 KB)	ix
	Preface William Hogan and Federico Sturzenegger Sample Chapter - Download PDF (49 KB)	xi
1	Contracts and Investment in Natural Resources William Hogan, Federico Sturzenegger and Laurence Tai	1
I	Theoretical Papers	45
2	Petroleum Contracts: What Does Contract Theory Tell Us? Philippe Aghion and Lucia Quesada	47
	Commentary Assisted by Lawrence H. Summers	61
3	Sovereign Theft: Theory and Evidence about Sovereign Default and Expropriation Michael Tomz and Mark J. Wright	69
	Commentary: Expropriations, Defaults, and Financial Architecture Jeromin Zettelmeyer	111
4	A Resource Belief Curse? Oil and Individualism Rafael Di Tella, Juan Dubra and Robert J. MacCulloch	119
	Commentary George-Marios Angeletos	155
5	Optimal Resource Extraction Contracts under Threat of Expropriation Eduardo Engel and Ronald Fischer	161
6	Denying the Temptation to GRAB Nils Wernerfelt and Richard Zeckhauser	197
7	Dealing with Expropriations: General Guidelines for Oil Production Contract Roberto Rigobon	227
	Commentary Erich Muehlegger	255
8	Pricing Expropriation Risk in Natural Resource Contracts: A Real Options Approach Eduardo S. Schwartz and Anders B. Trolle	263
	Commentary Robert S. Pindyck	289
II	Country Cases	291
9	Credibility, Commitment, and Regulation: Ex Ante Price Caps and Ex Post Interventions Dieter Helm	293
	Commentary Jeffrey A. Frankel	325
10	Hydrocarbon Policy, Shocks, and the Collective Imagination: What Went Wrong in Bolivia? Fernando H. Navajas	331
	Commentary Fernando Candida Castillo	359
11	Urgency and Betrayal: Three Attempts to Foster Private Investment in Argentina’s Oil Industry Nicolas Gadano	369
	Commentary Louis Wells	405
12	The Political Economy of Oil Contract Renegotiation in Venezuela Osmel Manzano and Francisco Monaldi	409
	vCommentary: Not Just a Distributional Matter Ramón Espinasa	467
III	Conclusion	485
	Epilogue: Populism and Natural Resources Workshop Bijan Mossavar-Rahmani	487
	Appendix Populism and Natural Resources Workshop Participants List Sample Chapter - Download PDF (38 KB)	495
	Index Sample Chapter - Download PDF (111 KB)	499

• Harvard_final_010208.pdf (139.5 KB)