Expropriation is the act of a government in taking privately owned property, ostensibly to be used for purposes designed to benefit the overall public. In the United States, what is referred to as ...
EFFICIENT AND FLEXIBLE: The Case for Renegotiation Clauses in Concession Agreements By ... Renegotiating Acquired Rights in the Oil and Gas Industries: Industry and Political Cycles Meet the Rule of Law, Journal of WorldEnergy Law andBusiness 1,2008,55. ... Expropriation of Oil and Gas Investments: Historical, Legal and Economic ...
Expropriation risk has a binding effect on foreign direct investment (FDI). However, state-owned multinational corporations may counter the monopoly power of …
The reason the Amendment Bill preceded the Expropriation Bill is clear if regard is had to section 25(2) of the Constitution, which provides for the expropriation of property, but only in terms of ...
Many have asked abouth the sustainability of Land Expropriation Without Compensation. While the Section 25 Amendment of the South African Constitution may not have been successful, the …
The most straightforward cost is the expected loss of efficiency when switching from a privately run oil company to a state-run firm (Hartley and Medlock, ... (2011) in analyzing the determinants of acts of expropriation in the oil sector, and robustness checks using non-linear methods show similar substantive results.
Summary. Expropriations, in order to be legal, must be in the public interest, non-discriminatory, must take place under due process of law and against prompt adequate …
Efficient Expropriation: Sustainable Fiscal Policy in a Small Open Economy, By Aguiar, Mark, Manuel Amador, and Gita Gopinath. 2006 We study a small open economy characterized by two empirically important frictions – incomplete financial markets and an inability of the government to commit to policy. We characterize the best sustainable …
States are usually less efficient in managing the expropriated assets and they end up privatizing. [1] This is the same definition adopted by Article 10(7) of the 1961 Harvard Draft Convention. [2] This guideline adds …
An expropriation occurs when a governmental authority (known as the Expropriating Authority) takes land without the consent of the owner.
Covers several important expropriation cases in international business from the 20th century and highlights the legal and political difficulties these companies faced.
Request PDF | Expropriation risk, investment decisions and economic sectors | We build a Real Options model to assess the importance of private provision and the impact of expropriation risk on ...
Sectors with heavy expropriation activity should have a relative productivity low enough to allow for profitable private investments in some states, but high enough to …
The security of property rights is also sector-dependent as the technology gap between firms and the government's bureaucrats varies across sectors. While low efficiency of the government makes ex ante firm investment more likely, it also reduces its threat point to extract cash flows from the firm. 2 For intermediate ability of the …
Climate-resilient infrastructure, efficient irrigation systems, and better water management will help lessen the impact of weather-related natural disasters and boost agricultural production, and potentially lift many people out of poverty. ... Moreover, more private-sector participation could help in executing the infrastructure investment ...
We build a Real Options model to assess the importance of private provision and the impact of expropriation risk on investment timing, business values, …
The Impact of Expropriation on Investment in the Mining Sector. Expropriation of mineral rights is an action taken by the government to assume control or ownership of private property for public use. This process can have significant effects on the economy, particularly in the mining sector.
Personal service, efficient results. ... team helps guide expropriated owners — and other parties impacted by public infrastructure projects — through the expropriation process. Our private-sector clients include landowners, developers, corporations, homeowners and tenants. Whatever your objective, we help you overcome complex legal ...
Expropriation risk for foreign investors is on the rise due to a confluence of factors, such as resource nationalism, the energy transition from fossil fuels to clean energy, and a …
But in practice, indirect expropriation is more likely to be unlawful expropriation, because the State does not consider or even fails to realize that the general requirements of a …
4.1 Expropriation. In the energy sector, expropriations are generally divided into three categories: direct expropriations; regulatory or financial measures tantamount to a taking; and cancellation of contractual rights.
The Ins and Outs of Ontario Expropriations: A Procedural Overview Understanding Ontario Expropriations Before diving into the nuance of the expropriation process, we ought to establish a solid foundational understanding of what is meant by the term. Essentially, expropriation describes the conceptual basis by which the …
In this paper, we find that severer controlling shareholder expropriation is associated with higher deviations of labor investment from the level justified by economic fundamentals, i.e., lower labor investment efficiency.
This stance is strongly supported by the private sector and 'big business' in particular. In December 2017, the ruling African National Congress (ANC) adopted a resolution that it would seek to make use of 'expropriation without compensation' (EWC) as a key mechanism for land reform.
We find that British investors demanded a higher equity cost of capital from firms operating in countries with weak property-rights institutions. Further, country-level expropriation risk is negatively related to 19th-century capital flows and present-day economic and financial development.
There are two economic sectors and one of them is essential for the economy. • The firm's and the government's decisions interact with each other in the model. • Firms accelerate both investment and abandonment decisions in this context. • Governments offer a fairer indemnity in essential sectors due to expropriation cost.
2 The political economy of expropriation and privatization in the oil sector; 3 Hybrid governance: state management of national oil companies; 4 On the state's choice of oil company: risk management and the frontier of the petroleum industry; Part III National oil company case studies; Part IV Conclusions and implications; Part V …
Nationalization can happen through methods such as expropriation, negotiated purchases, or legislation mandating the transfer of ownership. ... The government thought that enhancing the productivity and efficiency of that sector was vital, and they had the capabilities to get the job done.
I study the political consequences of state expropriation of agricultural land in rural China by using national individual-level panel data for the pe…
The Ontario Land Tribunal (OLT) has published new rules for proceedings under the Expropriations Act.