Research Library

Experts from the Baker Institute Center for Energy Studies examines issues in global energy.

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Study by Joe Barnes, James D. Coan, Jareer Elass…

Latin America recently experienced a new wave of nationalization in the hydrocarbon sector with tax increases and the participation and control of the state. There is considerable variation in the specific policies that Latin American countries implemented, however.

The political institutions that established Venezuela's democracy in the 1960s were deliberately set up to generate a cooperative equilibrium with low stakes of power. The recent political reforms, increasing the stakes of power, have stimulated a complete breakdown in cooperation and a highly polarized political system.