Download or read book Rent Seeking, Institutions, and Commitment : the Political Economy of Foreign Investment in the Venezuelan Oil Industry written by Francisco Monaldi and published by . This book was released on 2002 with total page 480 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation explores an alternative type of commitment mechanism to attract foreign capital based on external enforcement of the investment deal using offshore assets and future export revenues as hostages . The key feature of this institutional arrangement is that it makes government reneging costly and provides effective third-party external enforcement to the deal.