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2012
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- handle: 10670/1.4t8pgy
- hal: hal-02804865
- PRODINRA: 320458
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Trade Commercial trade Foreign trade Trade TradeCiter ce document
Liam Wren-Lewis, « Hold-up problems in international energy trade », HALSHS : archive ouverte en Sciences de l’Homme et de la Société, ID : 10670/1.4t8pgy
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This paper investigates the impact of limited commitment on international electricity trade. We build a model where hold-up problems originating from incomplete contracts decrease countries' willingness to trade. In particular, an inability to commit to future trade reduces the specialization of investment. The paper then uses the model to explore potential policy solutions including deregulation and the liberalization of ownership