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Sharing the Costs and Benefits of Energy and Resource ActivityLegal Change and Impact on Communities$
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Lila Barrera-Hernández, Barry Barton, Lee Godden, Alastair Lucas, and Anita Rønne

Print publication date: 2016

Print ISBN-13: 9780198767954

Published to Oxford Scholarship Online: June 2016

DOI: 10.1093/acprof:oso/9780198767954.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2019. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 16 September 2019

Oil and Natural Gas Royalties and Social Development in Brazil

Oil and Natural Gas Royalties and Social Development in Brazil

Chapter:
(p.279) 16 Oil and Natural Gas Royalties and Social Development in Brazil
Source:
Sharing the Costs and Benefits of Energy and Resource Activity
Author(s):

Yanko Marcius de Alençar Xavier

Anderson Souza da Silva Lanzillo

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780198767954.003.0016

This chapter analyzes the new system of oil and gas royalties introduced by the pre-salt layer law and the ways in which this new legislation promotes social development in Brazil. Concern over the use of royalty revenues is based not only on general problems identified in the economic literature, known as the ‘Dutch disease’ and the natural resource curse, but also on the peculiarities of Brazil, where the need for resources to finance social policies often contrasts with cases of corruption involving embezzlement of oil and gas royalties. In that vein, this chapter first discusses oil and gas royalty laws and the position of those resources among other financial revenues collected by the Brazilian state. Second, it investigates how the legislation generally and specifically channels public expenditures of royalties to support public policies linked to social development.

Keywords:   Brazil, social development, oil and gas royalties, pre-salt layer law, Dutch disease, natural resource curse, social policies, royalty laws

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