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La Privatización de Reservas en el Sector HidrocarburÃfero. El Caso de Argentina
Economic Analysis Review
View Archive Info| Field | Value | |
| Title |
La Privatización de Reservas en el Sector HidrocarburÃfero. El Caso de Argentina
La Privatización de Reservas en el Sector HidrocarburÃfero. El Caso de Argentina |
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| Creator |
Gadano, Nicolás
Sturzenegger, Federico |
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| Description |
Between 1989 and 1993 Argentina privatized its production and exploration of hydrocarbons. In the process several mechanisms were used. Some of the reserves were privatized through competitive auctions. We show, in an ex-post study of the profitability obtained by the winners of those auctions, that these investments yielded lower returns than alternative opportunities available to them at that time. Other reserves were privatized through discretionary mechanisms in which a committee negotiated with contractors the payment to be received by the government. We found that this implied losses for the government. The paper thus compares the mechanism of competitive auctions, main subject of this volume, with other mechanisms, illustrating with a real case some of the results of the theory of auctions.
Between 1989 and 1993 Argentina privatized its production and exploration of hydrocarbons. In the process several mechanisms were used. Some of the reserves were privatized through competitive auctions. We show, in an ex-post study of the profitability obtained by the winners of those auctions, that these investments yielded lower returns than alternative opportunities available to them at that time. Other reserves were privatized through discretionary mechanisms in which a committee negotiated with contractors the payment to be received by the government. We found that this implied losses for the government. The paper thus compares the mechanism of competitive auctions, main subject of this volume, with other mechanisms, illustrating with a real case some of the results of the theory of auctions. |
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| Publisher |
Universidad Alberto Hurtado - Facultad de Economía y Negocios
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| Contributor |
—
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| Date |
2010-03-07
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| Type |
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion — — |
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| Format |
application/pdf
application/pdf |
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| Identifier |
http://www.rae-ear.org/index.php/rae/article/view/121
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| Source |
Revista de Análisis Económico - Economic Analysis Review; Vol 13, No 1 (1998); 75-115
Revista de Análisis Económico – Economic Analysis Review; Vol 13, No 1 (1998); 75-115 0718-8870 0716-5927 |
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| Language |
spa
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| Relation |
http://www.rae-ear.org/index.php/rae/article/view/121/232
http://www.rae-ear.org/index.php/rae/article/view/121/365 |
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