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The Economics of Natural Resources in Latin America: Taxation and Regulation of the Extractive Industries book cover

1st Edition

The Economics of Natural Resources in Latin America Taxation and Regulation of the Extractive Industries

Edited By Osmel E. Manzano M., Fernando Navajas, Andrew Powell Copyright 2018
258 Pages
by Routledge

258 Pages 68 B/W Illustrations
by Routledge

258 Pages 68 B/W Illustrations
by Routledge
Also available as eBook on:
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... Read more

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







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






  2. Recent literature on non-renewables






  3. Institutions and instruments: gaps in relation to best practices






  4. What next for resource tax systems in Latin America?






  5. Conclusions




Chapter 2: The effects of commodity taxation on sector performance







  1. Methodological approach






  2. Results






  3. Concluding remarks




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







  1. The role of copper in Chilean Development






  2. Mining sector today






  3. Deacon’s Model






  4. Data and parameters






  5. Relevant Tax Regimes in the Case of Chile






  6. Simulations of the scenarios






  7. Concluding remarks




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







  1. Institutional Setting






  2. The Model






  3. Data






  4. Results






  5. Introducing depreciation in Deacon’s Model






  6. Concluding remarks




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







  1. The Theory on Oil Production and Taxes.






  2. The Venezuelan Case






  3. Estimating the Effects upon Oil Exploitation of the Tax Rules






  4. A brief review of the performance sector






  5. Concluding Remarks




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

Biography

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.

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