Arbeitspapier
Pushing One's Luck: Petroleum Ownership and Discoveries
We present a new dataset that tracks changes in legal ownership regimes in the petroleum sector between 1867 and 2008 for a panel of countries. We document that foreign ownership has been taken over by partnerships as the leading ownership regime, while domestic ownership is on the rise again in recent years. We use this dataset to examine whether institutional change in the petroleum sector leads to more oil and gas exploration and discoveries. On average, switching to majority foreign ownership is related to up to a quarter of a standard deviation more discoveries than under majority domestic ownership. Switching to partnership is positively related to drilling activity, but is less likely to be linked to many more discoveries. Petroleum exploration and discoveries may thus be endogenous to industry-specific institutional change.
- Sprache
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Englisch
- Erschienen in
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Series: CESifo Working Paper ; No. 9169
- Klassifikation
-
Wirtschaft
Institutions and the Macroeconomy
Institutions and Growth
Nonrenewable Resources and Conservation: General
- Thema
-
discoveries
oil and gas
natural resources
institutions
- Ereignis
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Geistige Schöpfung
- (wer)
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Brunnschweiler, Christa N.
Poelhekke, Steven
- Ereignis
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Veröffentlichung
- (wer)
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Center for Economic Studies and ifo Institute (CESifo)
- (wo)
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Munich
- (wann)
-
2021
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Brunnschweiler, Christa N.
- Poelhekke, Steven
- Center for Economic Studies and ifo Institute (CESifo)
Entstanden
- 2021