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Determinants of Nationalization in the Oil Sector: A Theory and Evidence from Panel Data

Sergei Guriev, Anton Kolotilin and Konstantin Sonin.

in The Journal of Law, Economics, and Organization

August 2011; p ublished online June 2009 .

Journal Article. Subjects: Other Economic Systems; Primary Products; Nonprofit Organizations and Public Enterprise; Production and Organizations. 8520 words.

In this article, we study nationalizations in the oil industry around the world during 1960–2006. We show, both theoretically and empirically, that governments are more likely to...