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on Confederation of Independent States |
| By: | Bruno, Randolph Luca (University of Birmingham); Bytchkova, Maria (London School of Economics); Estrin, Saul (London School of Economics) |
| Abstract: | We analyse a micro-panel data set to investigate the effect of regional institutional environment and economic factors on Russian new firm entry rates across time, industries and regions. The paper builds on novel databases and exploits inter-regional variation in a large number of institutional variables. We find entry rates across industries in Russia are not especially low by international standards and are correlated with entry rates in developed market economies, as well as with institutional environment and firm size. Furthermore, industries that, for scale or technological reasons, are characterised by higher entry rates experience lower entry within regions affected subject to political change. A higher level of democracy enhances entry rates for small sized firms but reduces them for medium or large ones. |
| Keywords: | entry rate, institutions, democracy |
| JEL: | L26 P31 |
| Date: | 2011–02 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp5504&r=cis |
| By: | Lars Lindholt and Solveig Glomsrød (Statistics Norway) |
| Abstract: | The Arctic has a substantial share of global petroleum resources, but at higher costs than in most other petroleum provinces. Arctic states and petroleum companies are carefully considering the potential for future extraction in the Arctic. This paper studies the oil and gas supply from 6 arctic regions during 2010-2050 along with global economic growth and different assumptions regarding petroleum prices and resource endowments. Supply is calculated based on a global model of oil and gas markets. The data on undiscovered resources for the Arctic is based on the estimates by USGS. Sensitivity studies are carried out for two alternative price scenarios and for a 50 per cent reduction of arctic undiscovered resources compared with the USGS 2008 resource estimate. Although a major part of the undiscovered arctic petroleum resources is natural gas, our results show that the relative importance of the Arctic as a world gas supplier will decline, while its importance as a global oil producer may be maintained. We also show that less than full access to undiscovered oil resources will have minor effect on total arctic oil production and a marginal effect on arctic gas extraction. The reason is that Arctic Russia is an important petroleum producer with a sufficiently large stock of already discovered resources to support their petroleum production before 2050. |
| Keywords: | Arctic; oil market; gas market; equilibrium model |
| JEL: | Q31 Q41 R10 |
| Date: | 2011–02 |
| URL: | http://d.repec.org/n?u=RePEc:ssb:dispap:645&r=cis |