Natural gas supply behavior under interventionism: The case of Argentina

We address the causes behind the significant drop in natural gas production in the 2000s in Argentina, starting from a basic supply model that depends on economic incentives, and adding control variables related to different potential explanations such as firm specific (or area specific) behavior an...

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Detalles Bibliográficos
Autores principales: Barril, Diego, Navajas, Fernando Heberto
Formato: Articulo
Lenguaje:Inglés
Publicado: 2015
Materias:
Ciencias Económicas
Argentina
Exhaustible resources
Natural gas
Production
Acceso en línea:http://sedici.unlp.edu.ar/handle/10915/86118
Aporte de:
SEDICI (UNLP) de Universidad Nacional de La Plata
id I19-R120-10915-86118
record_format dspace
institution Universidad Nacional de La Plata
institution_str I-19
repository_str R-120
collection SEDICI (UNLP)
language Inglés
topic Ciencias Económicas
Argentina
Exhaustible resources
Natural gas
Production
spellingShingle Ciencias Económicas
Argentina
Exhaustible resources
Natural gas
Production
Barril, Diego
Navajas, Fernando Heberto
Natural gas supply behavior under interventionism: The case of Argentina
topic_facet Ciencias Económicas
Argentina
Exhaustible resources
Natural gas
Production
description We address the causes behind the significant drop in natural gas production in the 2000s in Argentina, starting from a basic supply model that depends on economic incentives, and adding control variables related to different potential explanations such as firm specific (or area specific) behavior and the role of contractual renegotiation of concessions extensions. Results from a panel data of production areas between 2003 and 2013 show that once a basic supply-past production (or reserve) relationship is modeled, other often mentioned effects become non-significant. Chiefly among them are firm specific effects that were used as a central argument for the nationalization of YPF in 2012. Rather, the evidence shows that the observed downcycle conforms to the prediction of a simple model of depressed economic incentives acting upon mature conventional natural gas fields and hindering investment in reserve additions or new technologies. The results are robust to the nationalization of YPF, after which aggregate production continued a downward trend for two years, although are insufficient to capture an ongoing reconfiguration of incentives and risks in the forthcoming transition to shale gas production.
format Articulo
Articulo
author Barril, Diego
Navajas, Fernando Heberto
author_facet Barril, Diego
Navajas, Fernando Heberto
author_sort Barril, Diego
title Natural gas supply behavior under interventionism: The case of Argentina
title_short Natural gas supply behavior under interventionism: The case of Argentina
title_full Natural gas supply behavior under interventionism: The case of Argentina
title_fullStr Natural gas supply behavior under interventionism: The case of Argentina
title_full_unstemmed Natural gas supply behavior under interventionism: The case of Argentina
title_sort natural gas supply behavior under interventionism: the case of argentina
publishDate 2015
url http://sedici.unlp.edu.ar/handle/10915/86118
work_keys_str_mv AT barrildiego naturalgassupplybehaviorunderinterventionismthecaseofargentina
AT navajasfernandoheberto naturalgassupplybehaviorunderinterventionismthecaseofargentina
bdutipo_str Repositorios
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