The Rule of Law and Foreign Investment in Oil: Petroleum Nationalism in Latin America and Its Implications for Mexico
Monaldi, Francisco J.
The development of the petroleum sector has been characterized by a succession of cycles of investment and expropriation that have been particularly pronounced in Latin America. This paper analyzes the causes of these cycles and the lessons that can be derived and applied during the implementation of the petroleum reform in Mexico. This paper is part of a Baker Institute Mexico Center research project examining the rule of law in Mexico (http://www.bakerinstitute.org/the-rule-of-law-and-mexicos-energy-reform/) and the challenges it poses to implementing the country's energy reform.