Petroleum royalties and regional development in Brazil: The economic growth of recipient towns

Postali, Fernando Antônio Slaibe

doi:10.1016/j.resourpol.2009.03.002

Cited by 48 publications

(40 citation statements)

References 19 publications

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“…This is also the case for unobservable characteristics. In many cases, recent studies similar to the authors’ have used the difference‐in‐differences (DID) estimator (Postali, ; James and Aadland, ; Postali and Nishijima, ; Munasib and Rickman, ). The drawback of this estimator is that it is based on the assumption that only unobservable characteristics are a source of bias.…”

Section: Methodsmentioning

confidence: 99%

Oil and Regional Development in Chad: Assessment of the Impact of the Doba Oil Project on Poverty in the Host Region

Aristide¹,

Moundigbaye²

2017

African Development Review

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Section: Methodsmentioning

confidence: 99%

Oil and Regional Development in Chad: Assessment of the Impact of the Doba Oil Project on Poverty in the Host Region

Aristide¹,

Moundigbaye²

2017

African Development Review

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“…Esse mesmo método foi utilizado por Postali (2009), que avaliou se os royalties distribuídos aos municípios na forma da nova lei contribuíram para o crescimento do PIB destes. Foi comparada a evolução do PIB per capita nos municípios afetados e não afetados pela aprovação da Lei n o 9.478.…”

Section: Debate Empírico Sobre O Desenvolvimento Sustentável E a Apliunclassified

Os efeitos da aplicação dos royalties petrolíferos sobre os investimentos públicos nos municípios brasileiros

Reis

Santana

2015

Rev. Adm. Pública

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A promulgação da Lei n o 9.478, de 1997, proporcionou um maior ingresso de royalties provenientes da exploração de petróleo e gás natural em alguns municípios brasileiros. Por ser uma receita transitória, é relevante investigar a aplicação desses recursos, da perspectiva das finanças públicas. Este artigo tem como objetivo analisar os efeitos da aplicação dos royalties petrolíferos sobre os investimentos públicos nos municípios brasileiros, no período de 1999 a 2011. A estratégia metodológica envolveu o uso do modelo econométrico de painel, a partir da utilização das variáveis receitas orçamentárias, royalties e despesas de capital dos respectivos municípios, obtidas a partir de fontes secundárias. Os resultados mostram que os municípios mais dependentes dos royalties elevaram as despesas de capital com o aumento dos royalties, tanto pela ótica per capita como pela proporção fiscal.Pal av r a s -c h av e : royalties; finanças públicas; municípios.Los efectos de la aplicación de regalías en petróleo sobre inversiones públicas en los municipios brasileños La promulgación de la Ley 9.478 de 1997 proporcionó una mayor afluencia de regalías (royalty) de petróleo y gas natural en algunos municipios de Brasil. Al ser una receta de transición, es relevante investigar la aplicación de estos recursos desde el punto de vista de las finanzas públicas. Este artículo tiene como objetivo analizar los efectos de la aplicación de las regalías del petróleo en las inversiones públicas en los municipios brasileños en el período 1999-2011. La estrategia consistió en la utilización de un modelo econométrico de panel, a partir de la utilización de los variables ingresos presupuestarios, las regalías y los gastos de capital de los respectivos municipios, obtenidos de fuentes secundarias. Los resultados muestran que los condados más dependientes de regalías se incrementaron los gastos de capital con la entrada de las regalías, tanto por la perspectiva per cápita como la perspectiva fiscal.Pal a b r a s c l av e : derechos de autor; finanzas públicas; municipios.

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“…In some cases, however, depending on the type of activity, it may also charge royalties, which are usually charged over public assets and when legislation determines a sovereign ownership of natural resources regardless of them being located in privately owned land (Rigobon, 2010;Postali, 2009). …”

Section: Assumptionsmentioning

confidence: 99%

“…While most firms are subject to corporate income taxes, royalties are only applied to certain types of economic activities. They can be considered a special fiscal regime that arises from the fact that these resources are typically owned by national states who lease production to private corporations, and this gives them the right to grab resource rents 7 (Postali, 2009;Rigobon, 2010). Examples of activities requiring royalty payments are typically oil, gas and mining activities; in some countries, forestry is also subject to royalty fees.…”

Section: Private Provision In a Safe Political Environmentmentioning

confidence: 99%

Expropriation Risk, Investment Decisions and Economic Sectors

et al. 2014

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We build a Real Options model to assess the importance of private provision and the impact of expropriation risk on investment timing, investment volumes, governmental costs and social welfare. We consider two types of businesses (essential and non essential businesses) and two stages (operating and investment opportunities), and answer questions regarding three main topics: the firm's reaction to expropriation risk, the government drivers to expropriate, and the costs this generates in terms of welfare. We find that the firm makes suboptimal investment decisions. When we endogenize the reputational costs of expropriation, results show that the decision of the government regarding the level of political risk will largely depend on the type of business. However, in terms of welfare it is never optimal to expropriate.

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Petroleum royalties and regional development in Brazil: The economic growth of recipient towns

Cited by 48 publications

References 19 publications

Oil and Regional Development in Chad: Assessment of the Impact of the Doba Oil Project on Poverty in the Host Region

Oil and Regional Development in Chad: Assessment of the Impact of the Doba Oil Project on Poverty in the Host Region

Os efeitos da aplicação dos royalties petrolíferos sobre os investimentos públicos nos municípios brasileiros

Expropriation Risk, Investment Decisions and Economic Sectors

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