Retrieved from GlobalMedia
Weak institutions, policy instability, and the lack of credible property rights for the sector generated high “above ground risks” inhibiting FDI during the oil boom, despite the massive resource base and the substantial number of deals signed. FDI underperformance contributed to the decline of the Venezuelan oil industry, even before the imposition of U.S. sanctions. By Francisco Monaldi, iIgor Hernández and José La Rosa Reyes. Full Text -> ScienceDirect
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