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来源类型Working papers
规范类型论文
DOI10.3929/ethz-a-006679695
International partnerships, foreign control and income levels: Theory and evidence
Brunnschweiler, Christa N.; Valente, Simone
发表日期2011-10
出版者ETH Zurich, Center of Economic Research (CER-ETH)
出版年2011
语种英语
摘要We analyze the e¤ects of di¤erent regimes of control rights over critical resources on the total domestic income of open economies. We consider home control, foreign control, and international partnerships in a theoretical model where contracts are incomplete, resource exploitation requires local capital, and foreign technologies are more e¢ cient. Enacting foreign control is never optimal, and assigning complete residual rights to foreign rms reduces domestic income. Two testable predictions are derived. First, international partnerships tend to generate higher domestic income than foreign control. Second, the typical regime choice is either partnership or foreign control when the international relative pro tability of the domestic resource endowment is high or intermediate, and home control with low relative pro tability. We test these predictions using a new dataset on petroleum ownership structures for up to 68 countries between 1867-2008, finding strong empirical support for the theoretical results.
主题Property rights ; Control rights ; Income ; Oil ; Panel data
URLhttps://www.research-collection.ethz.ch/handle/20.500.11850/40233
来源智库Centre for Energy Policy and Economics (Switzerland)
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资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/266692
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GB/T 7714
Brunnschweiler, Christa N.,Valente, Simone. International partnerships, foreign control and income levels: Theory and evidence. 2011.
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