The Economics of Natural Resources in Latin America

Taxation and Regulation of the Extractive Industries

Osmel E. Manzano M., Fernando Navajas, Andrew Powell (Herausgeber)

Buch | Hardcover

240 Seiten

2017
Routledge (Verlag)
9781138085367 (ISBN)

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Revenues from commodities are extremely important for Latin America and the Caribbean, yet there is very little literature on the structure of these industries and on the various ways in which the state obtains commodity revenues. This book aims to understand the trade-off between the degree of taxation overall, the profitability of the relevant industry and the amount of investment and subsequent production in the region, as well as the relevance of institutions in the performance of the sector.

This volume focuses on economic efficiency: where Latin America stands in terms of the current tax system for the extractive sector; how policies have changed in this regard; and how policies may be improved. The Economics of Natural Resources in Latin America is timely, since this new era of lower and volatile prices and possible reconfiguration of investment flows poses a challenge to natural resource tax systems in the world. The argument of the book will be made by a collection of papers around the issue of tax efficiency in the region and concludes with chapters on institutions and the role of transparency.

This book shows that there are varieties of experiences in resource taxation and management of revenues in Latin America that could be used to shape policy interventions in other regions. This variety is not only related to their diverse impact on welfare, but also on the policy challenges faced by the countries in the region. This volume is well suited for those who study and find interest in development economics, political economy and public finance, as well as policy

Osmel Manzano is Regional Economic Advisor for the Country Department for Belize, Central America, Mexico, Panama and Dominican Republic at the Inter-American Development Bank, USA. He is responsible for the economic work and macroeconomic monitoring of the IADB in Central America, Mexico and the Dominican Republic. Fernando Navajas is Professor of economics at the Universities of Buenos Aires and La Plata and Chief Economist at FIEL, Argentina. He is currently President of the Argentine Association of Political Economy and Director of the Applied Economics Institute of the National Academy of Economic Science of Argentina. Andrew Powell is Principal Advisor in the Research Department (RES) of the Inter-American Development Bank, USA. He has published numerous academic papers in leading economic journals in areas including commodity markets, risk management, the role of multilaterals, regulation, banking and international finance.

Chapter 1: The Taxation of Non-Renewable Resources in Latin America: Introduction and Overview

Commodity prices, the super-cycle and implications for fiscal revenues

Recent literature on non-renewables

Institutions and instruments: gaps in relation to best practices

What next for resource tax systems in Latin America?

Conclusions

Chapter 2: The effects of commodity taxation on sector performance

Methodological approach

Results

Concluding remarks

Chapter 3: Towards efficient taxation of minerals: The case of copper in Chile

The role of copper in Chilean Development

Mining sector today

Deacon’s Model

Data and parameters

Relevant Tax Regimes in the Case of Chile

Simulations of the scenarios

Concluding remarks

Chapter 4: Two sectors, two approaches: resource taxation in Peru

Institutional Setting

The Model

Data

Results

Introducing depreciation in Deacon’s Model

Concluding remarks

Chapter 5: Not all fields are created equal: The challenge of oil taxation in Venezuela

The Theory on Oil Production and Taxes.

The Venezuelan Case

Estimating the Effects upon Oil Exploitation of the Tax Rules

A brief review of the performance sector

Concluding Remarks

Chapter 6: Regulation and State Intervention in Non-Renewable Natural Resources: the cases of the oil and gas sectors in Argentina.

Some facts about the oil and gas sectors in Argentina after the 2001-2002 crisis.

Making sense of regulations: a dynamic political-economy agency model of state intervention in the gas market

Self-enforcing equilibrium characterization with no exports, positive imports and positive subsidies.

Rationalizing facts on Argentina’s oil and gas in the 2000’s with the model results. Some policy implications.

Concluding remarks

Chapter 7: Oil Sector Performance and Institutions in Latin America

Analytical Framework

Empirical Evidence

Concluding Remarks

Chapter 8: Transparency Matters

The Evolution of the EITI

Prior Research

Data and Measurement Issues

Empirical Model and Estimation Methodology

Findings

Case Studies: Nigeria and Peru

Concluding Remarks

Erscheinungsdatum	14.09.2017
Reihe/Serie	Routledge Studies in Development Economics
Zusatzinfo	43 Tables, black and white; 68 Line drawings, black and white; 68 Illustrations, black and white
Verlagsort	London
Sprache	englisch
Maße	156 x 234 mm
Gewicht	544 g
Themenwelt	Sozialwissenschaften ► Politik / Verwaltung ► Staat / Verwaltung
	Sozialwissenschaften ► Soziologie
	Wirtschaft ► Betriebswirtschaft / Management ► Finanzierung
	Wirtschaft ► Betriebswirtschaft / Management ► Marketing / Vertrieb
	Wirtschaft ► Volkswirtschaftslehre ► Wirtschaftspolitik
ISBN-13	9781138085367 / 9781138085367
Zustand	Neuware