{"id":"https://openalex.org/W2503566918","doi":"https://doi.org/10.7551/mitpress/9780262013796.003.0020","title":"The Political Economy of Oil Contract Renegotiation in Venezuela","display_name":"The Political Economy of Oil Contract Renegotiation in Venezuela","publication_year":2010,"publication_date":"2010-06-18","ids":{"openalex":"https://openalex.org/W2503566918","doi":"https://doi.org/10.7551/mitpress/9780262013796.003.0020","mag":"2503566918"},"language":"en","primary_location":{"id":"doi:10.7551/mitpress/9780262013796.003.0020","doi":"https://doi.org/10.7551/mitpress/9780262013796.003.0020","is_oa":false,"landing_page_url":"https://doi.org/10.7551/mitpress/9780262013796.003.0020","pdf_url":null,"source":{"id":"https://openalex.org/S4306463997","display_name":"The MIT Press eBooks","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/P4310315718","host_organization_name":"The MIT Press","host_organization_lineage":["https://openalex.org/P4310315718","https://openalex.org/P4310316440"],"host_organization_lineage_names":["The MIT Press","Massachusetts Institute of Technology"],"type":"ebook platform"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"The Natural Resources Trap","raw_type":"book-chapter"},"volume":{"id":"https://openalex.org/W142169274","display_name":"The Natural Resources Trap"},"type":"book-chapter","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5036826868","display_name":"Osmel E. Manzano M.","orcid":"https://orcid.org/0000-0002-8337-1047","observed_orcids":["https://orcid.org/0000-0002-8337-1047"]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Osmel Manzano","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]},{"author_position":"last","author":{"id":"https://openalex.org/A5049369188","display_name":"Francisco Monaldi","orcid":null,"observed_orcids":[]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Francisco Monaldi","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":0,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":2.9524,"has_fulltext":false,"cited_by_count":33,"citation_normalized_percentile":{"value":0.9585327,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":89,"max":97},"biblio":{"volume":null,"issue":null,"first_page":"409","last_page":"466"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T11823","display_name":"Natural Resources and Economic Development","score":0.9980000257492065,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T11823","display_name":"Natural Resources and Economic Development","score":0.9980000257492065,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T13186","display_name":"Russia and Soviet political economy","score":0.0003000000142492354,"subfield":{"id":"https://openalex.org/subfields/3320","display_name":"Political Science and International Relations"},"field":{"id":"https://openalex.org/fields/33","display_name":"Social Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12129","display_name":"Global Energy Security and Policy","score":0.0003000000142492354,"subfield":{"id":"https://openalex.org/subfields/2100","display_name":"General Energy"},"field":{"id":"https://openalex.org/fields/21","display_name":"Energy"},"domain":{"id":"https://openalex.org/domains/3","display_name":"Physical Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/venezuela","display_name":"Venezuela","score":0.4390000104904175},{"id":"https://openalex.org/keywords/oil-nationalization","display_name":"oil nationalization","score":0.7179999947547913},{"id":"https://openalex.org/keywords/oil-rents","display_name":"oil rents","score":0.49799999594688416},{"id":"https://openalex.org/keywords/progressive-taxation","display_name":"progressive taxation","score":0.7020000219345093},{"id":"https://openalex.org/keywords/property-rights","display_name":"property rights","score":0.5600000023841858},{"id":"https://openalex.org/keywords/investment-decline","display_name":"investment decline","score":0.6330000162124634},{"id":"https://openalex.org/keywords/oil-reserves","display_name":"oil reserves","score":0.3569999933242798},{"id":"https://openalex.org/keywords/political-economy-of-oil","display_name":"political economy of oil","score":0.5109999775886536}],"concepts":[{"id":"https://openalex.org/C106866004","wikidata":"https://www.wikidata.org/wiki/Q264259","display_name":"Economic rent","level":2,"score":0.9312164783477783},{"id":"https://openalex.org/C2779343474","wikidata":"https://www.wikidata.org/wiki/Q3109175","display_name":"Context (archaeology)","level":2,"score":0.6159213185310364},{"id":"https://openalex.org/C27548731","wikidata":"https://www.wikidata.org/wiki/Q88272","display_name":"Investment (military)","level":3,"score":0.5830883383750916},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.5713438987731934},{"id":"https://openalex.org/C94625758","wikidata":"https://www.wikidata.org/wiki/Q7163","display_name":"Politics","level":2,"score":0.4561852514743805},{"id":"https://openalex.org/C86511162","wikidata":"https://www.wikidata.org/wiki/Q8799101","display_name":"Property rights","level":2,"score":0.45563358068466187},{"id":"https://openalex.org/C18547055","wikidata":"https://www.wikidata.org/wiki/Q47417","display_name":"International economics","level":1,"score":0.42130768299102783},{"id":"https://openalex.org/C175605778","wikidata":"https://www.wikidata.org/wiki/Q3299701","display_name":"Natural resource economics","level":1,"score":0.41337817907333374},{"id":"https://openalex.org/C34447519","wikidata":"https://www.wikidata.org/wiki/Q179522","display_name":"Market economy","level":1,"score":0.40955814719200134},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.3701951801776886},{"id":"https://openalex.org/C136264566","wikidata":"https://www.wikidata.org/wiki/Q159810","display_name":"Economy","level":1,"score":0.33644625544548035},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.1362835168838501},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.112261563539505},{"id":"https://openalex.org/C205649164","wikidata":"https://www.wikidata.org/wiki/Q1071","display_name":"Geography","level":0,"score":0.10731691122055054},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.06762570142745972},{"id":"https://openalex.org/C166957645","wikidata":"https://www.wikidata.org/wiki/Q23498","display_name":"Archaeology","level":1,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.7551/mitpress/9780262013796.003.0020","doi":"https://doi.org/10.7551/mitpress/9780262013796.003.0020","is_oa":false,"landing_page_url":"https://doi.org/10.7551/mitpress/9780262013796.003.0020","pdf_url":null,"source":{"id":"https://openalex.org/S4306463997","display_name":"The MIT Press eBooks","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/P4310315718","host_organization_name":"The MIT Press","host_organization_lineage":["https://openalex.org/P4310315718","https://openalex.org/P4310316440"],"host_organization_lineage_names":["The MIT Press","Massachusetts Institute of Technology"],"type":"ebook platform"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"The Natural Resources Trap","raw_type":"book-chapter"}],"best_oa_location":null,"sustainable_development_goals":[{"id":"https://metadata.un.org/sdg/16","score":0.8046000003814697,"display_name":"Peace, justice, and strong institutions"}],"sustainable_development_goals_aurora":[{"id":"https://metadata.un.org/sdg/17","score":0.4300000071525574,"display_name":"Partnerships for the goals"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":29,"referenced_works":["https://openalex.org/W74559965","https://openalex.org/W199249553","https://openalex.org/W252361936","https://openalex.org/W377558132","https://openalex.org/W565155856","https://openalex.org/W582491529","https://openalex.org/W586034746","https://openalex.org/W604056574","https://openalex.org/W1482106328","https://openalex.org/W1511171003","https://openalex.org/W1577314182","https://openalex.org/W1847460617","https://openalex.org/W1960458911","https://openalex.org/W1980981581","https://openalex.org/W2004601164","https://openalex.org/W2043593255","https://openalex.org/W2060982536","https://openalex.org/W2063022177","https://openalex.org/W2075354361","https://openalex.org/W2090658458","https://openalex.org/W2100058831","https://openalex.org/W2128719965","https://openalex.org/W2134970144","https://openalex.org/W2139624597","https://openalex.org/W2147225359","https://openalex.org/W2150913147","https://openalex.org/W2331471203","https://openalex.org/W2784281796","https://openalex.org/W3011497238"],"related_works":["https://openalex.org/W7005419177","https://openalex.org/W7171640760","https://openalex.org/W2134206111","https://openalex.org/W3133302863","https://openalex.org/W7213629962","https://openalex.org/W2022965243","https://openalex.org/W2169638089","https://openalex.org/W2563396225","https://openalex.org/W7134826302","https://openalex.org/W2725954391"],"abstract_inverted_index":{"This":[0],"chapter":[1,72],"reviews":[2],"three":[3],"episodes":[4],"of":[5,45,51,70,80,83,96,105],"oil":[6,34],"contract":[7],"renegotiation":[8],"in":[9,12,30,48,63,94],"Venezuela,":[10],"occurring":[11],"1943,":[13],"1958\u20131976,":[14],"and":[15,42,99],"2004\u20132008.":[16],"It":[17],"shows":[18],"some":[19],"common":[20],"elements":[21],"within":[22],"these":[23],"episodes,":[24],"including":[25],"significant":[26],"sunken":[27],"assets":[28],"deployed":[29],"the":[31,43,49,59,71,75,78,81,106,108],"successful":[32],"development":[33],"reserves,":[35],"a":[36,103],"politically":[37],"favorable":[38],"environment":[39],"for":[40],"renegotiation,":[41],"existence":[44],"increasing":[46,97],"rents":[47,98],"context":[50],"nonprogressive":[52],"contracts,":[53],"which":[54,89],"generally":[55],"did":[56],"not":[57],"incorporate":[58],"different":[60],"price":[61],"contingencies":[62],"an":[64,84],"effective":[65],"manner.":[66],"The":[67],"main":[68],"contentions":[69],"are":[73],"that":[74,100],"renegotiations":[76,109],"were":[77,110],"result":[79],"absence":[82],"appropriately":[85],"progressive":[86],"tax":[87],"regime,":[88],"made":[90],"governments":[91],"increase":[92],"taxes":[93],"periods":[95],"nationalization":[101],"was":[102],"consequence":[104],"way":[107],"conducted,":[111],"generating":[112],"high":[113],"uncertainty":[114],"with":[115],"respect":[116],"to":[117],"property":[118],"rights":[119],"as":[120,122],"well":[121],"declining":[123],"investment.":[124]},"counts_by_year":[{"year":2026,"cited_by_count":1},{"year":2025,"cited_by_count":1},{"year":2023,"cited_by_count":1},{"year":2022,"cited_by_count":3},{"year":2021,"cited_by_count":3},{"year":2020,"cited_by_count":4},{"year":2019,"cited_by_count":3},{"year":2018,"cited_by_count":2},{"year":2017,"cited_by_count":3},{"year":2016,"cited_by_count":2},{"year":2015,"cited_by_count":1},{"year":2014,"cited_by_count":3},{"year":2013,"cited_by_count":1}],"updated_date":"2026-10-16T09:59:22.235173","created_date":"2016-08-23T00:00:00"}
