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| Author: | Bohn, H. Deacon, R. |
| Title: | Ownership risk, investment, and the use of natural resources |
| Journal: | American Economic Review
2000 : JUN, VOL. 90:3, p. 526-549 |
| Index terms: | RISK INVESTMENT NATURAL RESOURCES |
| Language: | eng |
| Abstract: | The effect of insecure ownership on ordinary investment and natural resource use is examined. Insecure ownership is postulated to depend on the type of government regime in power and the prevalence of political violence or instability. The political determinants of economywide investment are estimated from cross-country data, and the results are used to form an index of ownership security. When introduced into empirical models of natural resource use, this index has a significant and quantitatively important effect on the use of forests and petroleum. |
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