The Resource Sector In An Open Economy
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The Resource Sector In An Open Economy
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Author : H. Siebert
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
The Resource Sector In An Open Economy written by H. Siebert and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
the economics of exhaustible " assets presents a whole forest of intriguing problems." 1 Harald Hotelling ) The two energy price shocks in 1973/74 and 1979/80 have arosed interest in the new area of resource economics. The affluent societies of Europe, North America and Japan were confronted with the new scarcity paradigm of the "space ship earth" with only a limited supply of natural resources aboard whereas population is growing and the environment can not accomodate the increasing volume of pollutants. The problem of natural resource scarcity gives rise to the question how resource-dependent economies like European coun tries and Japan are affected by an increase in resource prices and how they can adjust to rising energy prices. The new para digm also has focused new interest on the problem of the re source-extracting firm and of the resource-exporting country. The Hotelling revival of resource economics has given new im portance to the behavior and to the policy issues of resource exporting countries.
The Resource Sector In An Open Economy
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Author :
language : en
Publisher:
Release Date : 1984
The Resource Sector In An Open Economy written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1984 with categories.
The Resource Sector In A Open Economy
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Author :
language : de
Publisher:
Release Date : 1984
The Resource Sector In A Open Economy written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1984 with categories.
The Resource Sector In An Open Economy With Contributions By K Enders E Gerken H Herberg N Van Long M G Porter H Siebert
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Author : Horst Siebert
language : en
Publisher:
Release Date : 1984
The Resource Sector In An Open Economy With Contributions By K Enders E Gerken H Herberg N Van Long M G Porter H Siebert written by Horst Siebert and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1984 with categories.
The Open Economy And The Environment
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Author : Ian Coxhead
language : en
Publisher: Edward Elgar Publishing
Release Date : 2003
The Open Economy And The Environment written by Ian Coxhead and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Business & Economics categories.
This work asks what globalization means for environmental quality and the use of natural resources in developing economies. The authors develop theoretical models that trace the effects of trade and trade liberalization on sectoral resource allocation, factor returns, income and welfare, as well as incentives to clear forest and degrade agricultural land. The models reflect important developing economy features including spacial distinctions between uplands and lowlands, open-access forest resources and the special features of domestic food products. The authors also analyse representative economy submodels, explore empirical cases based on applied general equilibrium models of Asian economies, and examine welfare and environmental implications of migration, trade liberalization and development policy.
Sustaining Development In Mineral Economies
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Author : Richard Auty
language : en
Publisher: Routledge
Release Date : 2002-09-26
Sustaining Development In Mineral Economies written by Richard Auty and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-09-26 with Business & Economics categories.
It is widely believed that natural mineral resources are desirable. However there is growing evidence that this may not always be the case. Indeed, it seems that natural assets can distort the economy to such a degree that the benefit actually becomes a curse. In Sustaining Development in Mineral Economies, Richard Auty highlights these drawbacks and the devastating effect they can have on developing economies. With reference to six ore-exporters (viz. Peru, Bolivia, Chile, Jamaica, Zambia and Papua New Guinea) he outlines how things can go badly wrong. He particularly stresses the need to avoid `Dutch Disease' whereby competitiveness is drained out of the agriculture and manufacturing sectors so that in the long term growth falters.
News Shocks In Open Economies
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Author : Mr.Rabah Arezki
language : en
Publisher: International Monetary Fund
Release Date : 2015-09-29
News Shocks In Open Economies written by Mr.Rabah Arezki and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-09-29 with Business & Economics categories.
This paper explores the effect of news shocks on the current account and other macroeconomic variables using worldwide giant oil discoveries as a directly observable measure of news shocks about future output ? the delay between a discovery and production is on average 4 to 6 years. We first present a two-sector small open economy model in order to predict the responses of macroeconomic aggregates to news of an oil discovery. We then estimate the effects of giant oil discoveries on a large panel of countries. Our empirical estimates are consistent with the predictions of the model. After an oil discovery, the current account and saving rate decline for the first 5 years and then rise sharply during the ensuing years. Investment rises robustly soon after the news arrives, while GDP does not increase until after 5 years. Employment rates fall slightly for a sustained period of time.
From Natural Resource Boom To Sustainable Economic Growth
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Author : Pranav Gupta
language : en
Publisher: International Monetary Fund
Release Date : 2015-04-30
From Natural Resource Boom To Sustainable Economic Growth written by Pranav Gupta and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-04-30 with Business & Economics categories.
Some resource-rich developing countries are in the process of harnessing immense mining resources towards inclusive growth and prosperity. Nevertheless, tapping into natural resources could be challenging given the large front-loaded investment, volatile capital flows and exposure to global commodity markets. Public investment is needed to remove the often-large infrastructure gap and unlock the economic potential. However, too rapid fiscal outlays could push the economy to its limit of absorptive capacity and increase macro-financial vulnerabilities. This paper utilizes a structural model-based approach to analyze macroeconomic impacts of different public investment strategies on key fiscal and non-fiscal variables such as debt, consumption, sovereign wealth fund, and real exchange rates. We apply the model to Mongolia and draw policy recommendations from the analysis. We find that fiscal policy adjustment, particularly moderating infrastructure investment and optimizing investment efficiency is needed to maintain macroeconomic and external stability, as well as to boost the long-term sustainable growth for Mongolia.
The Political Economy Of Natural Resources And Development
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Author : Paul A. Haslam
language : en
Publisher: Routledge
Release Date : 2016-02-05
The Political Economy Of Natural Resources And Development written by Paul A. Haslam and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-02-05 with Business & Economics categories.
The Political Economy of Resources and Development offers a unique and multidisciplinary perspective on how the commodity boom of the mid-2000s reshaped the model of development throughout Latin America and elsewhere in the developing world. Governments increased taxes and royalties on the resource sector, the nationalization of foreign firms returned to the mainstream economic policy agenda, and public spending on social and developmental goals surged. These trends, often described as resource nationalism, have developed into a strategy for economic development, generated a re-imagining of the state and its institutional possibilities, and created a new but very significant political risk for extractive enterprises. However, these innovations, which constitute the most dramatic change in development policy in Latin America since the advent of neoliberalism, have so far received little attention from either academic or policy-oriented publications. This book explores the reasons behind these policies, and their effects on states, firms, and development trajectories. This text brings together renowned thematic experts to examine the political-economic causes of resource nationalism, as well as its manifestation in six Latin American countries. The causal variables considered by the contributors to this collection include a range of political-economic determinants of policy including commodity prices; the influence of ideology and national politics; ideas about industrial policy; relations between host governments and investors; and how countries respond to opportunities provided by regional initiatives and the new geography of the global economy. This volume is essential reading in development economics, political economy, and Latin American studies, as well as for those who want to understand what economic development means after neoliberalism.
Resource Windfalls Optimal Public Investment And Redistribution
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Author : Mr.Rabah Arezki
language : en
Publisher: International Monetary Fund
Release Date : 2012-08-01
Resource Windfalls Optimal Public Investment And Redistribution written by Mr.Rabah Arezki and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-08-01 with Business & Economics categories.
This paper studies the optimal public investment decisions in countries experiencing a resource windfall. To do so, we use an augmented version of the Permanent Income framework with public investment faced with adjustment costs capturing the associated administrative capacity as well as government direct transfers. A key assumption is that those adjustment costs rise with the size of the resource windfall. The main results from the analytical model are threefold. First, a larger resource windfall commands a lower level of public capital but a higher level of redistribution through transfers. Second, weaker administrative capacity lowers the increase in optimal public capital following a resource windfall. Third, higher total factor productivity in the non-resource sector reduces the degree of des-investment in public capital commanded by weaker administrative capacity. We further extend our basic model to allow for "investing in investing" - that is public investment in administrative capacity - by endogenizing the adjustment cost in public investment. Results from the numerical simulations suggest, among other things, that a higher initial stock of public administrative "know how" leads to a higher level of optimal public investment following a resource windfall. Implications for policy are discussed.