The Case of Israel’s Natural Gas Deposits
Dec 06, 2012
from 12:45 PM to 02:15 PM
|Where||The Engelman Recital Hall, 55 Lexington Avenue (enter on 25th Street)|
|Contact Name||Matthew LePere|
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About the Program
Economists, policymakers and the taxman have long struggled to find ways to fairly distribute the financial benefits that accrue when private entrepreneurs exploit a country’s publicly owned natural resources. Governments must create policies that provide incentives for private risk-taking but still ensure that the public shares in the bounty of the land. The recent discovery of vast natural gas deposits off of Israel’s Mediterranean coast presented a rare opportunity for Israeli leaders to establish such a policy. In a nation with both a strong socialist tradition and a dynamic market-driven economy, the Prime Minister established a committee headed by economics professor Eytan Sheshinski with the task of recommending a regime that would best allow for the development of the resources by private industry in a way that would benefit the entire country. In 2011, the Israeli parliament adopted the Sheshinski Committee’s recommendations.
Professor Sheshinski will talk about how he overcame the many seemingly irreconcilable interests his committee had to take into account in reaching its conclusions and will speak more generally about the interplay between the government, the people and the private sector in allocating the benefits from a nation’s natural wealth.
About the Speaker
Eytan Sheshinski serves as Professor of Public Finance at the Hebrew University in Jerusalem. He is currently a Director of Psagot Mutual Funds Ltd and of Israel Discount Bank Ltd. He has also served as Director and Chairman of the Investments Committee of Atudot Pension Fund Ltd. Prof. Sheshinski earned a PhD in Economics from the Massachusetts Institute of Technology, USA and – and BA and MA Degrees in Economics from the Hebrew University, Jerusalem.
The presentation will run from approximately 12:45 to 2:15 p.m.