| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w20859 |
| 来源ID | Working Paper 20859 |
| Property Rights, Regulatory Capture, and Exploitation of Natural Resources | |
| Christopher Costello; Corbett Grainger | |
| 发表日期 | 2015-01-19 |
| 出版年 | 2015 |
| 语种 | 英语 |
| 摘要 | We study how the strength of property rights to individual extractive firms affects a regulator’s choice over exploitation rates for a natural resource. The regulator is modeled as an intermediary between current and future resource harvesters, rather than between producers and consumers, as in the traditional regulatory capture paradigm. When incumbent resource users have weak property rights, they have an incentive to pressure the regulator to allow resource extraction at an inefficiently rapid rate. In contrast, when property rights are strong, this incentive is minimized or eliminated. We build a theoretical model in which different property right institutions can be compared for their incentives to exert influence on the regulator. The main theoretical prediction - that stronger individual property rights will lead the regulator to choose more economically efficient extraction paths - is tested empirically with a novel panel data set from global fisheries. Exploiting the variation in timing of catch share implementation in our panel data, we find that regulators are significantly more conservative in managing resources for which strong individual property rights have been assigned to firms; this is especially pronounced for resources that have been overexploited historically. |
| 主题 | Public Economics ; Taxation ; Public Goods ; Industrial Organization ; Firm Behavior ; Environmental and Resource Economics ; Renewable Resources |
| URL | https://www.nber.org/papers/w20859 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/578534 |
| 推荐引用方式 GB/T 7714 | Christopher Costello,Corbett Grainger. Property Rights, Regulatory Capture, and Exploitation of Natural Resources. 2015. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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