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Sustainabilty in Closed and Open Economies

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  • Klepper, Gernot
  • Stahler, Frank

Abstract

This paper discusses unilateral sustainability policies for tradable resources in closed and open economies. The effects of sustainability policies are modeled in an intertemporal, competitive framework by applying different sustainability rules which are introduced unilaterally in the domestic country. The paper shows that no sustainability rule will lead to a slower rate of extraction of the resource. Unilateral policies will lead to an "import of sustainability." It is also shown that the foreign country may well gain in terms of consumption and real income from such unilateral sustainability policies but not in terms of sustainability. Copyright 1998 by Blackwell Publishing Ltd.

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Bibliographic Info

Article provided by Wiley Blackwell in its journal Review of International Economics.

Volume (Year): 6 (1998)
Issue (Month): 3 (August)
Pages: 488-506

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Handle: RePEc:bla:reviec:v:6:y:1998:i:3:p:488-506

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References

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  1. John Hartwick, 1976. "Intergenerational Equity and the Investing of Rents from Exhaustible Resources," Working Papers, Queen's University, Department of Economics 220, Queen's University, Department of Economics.
  2. Hartwick, John M, 1978. "Substitution among Exhaustible Resources and Intergenerational Equity," Review of Economic Studies, Wiley Blackwell, Wiley Blackwell, vol. 45(2), pages 347-54, June.
  3. Geldrop, J. van & Withagen, C.A.A.M., 1993. "General equilibrium and international trade with exhaustible resources," Open Access publications from Tilburg University urn:nbn:nl:ui:12-3107034, Tilburg University.
  4. Svensson, Lars E.O., 1984. "Factor trade and goods trade," Journal of International Economics, Elsevier, Elsevier, vol. 16(3-4), pages 365-378, May.
  5. Ulph, A., 1994. "Environmental policy and international trade: a survey of recent economic analysis," Discussion Paper Series In Economics And Econometrics 9423, Economics Division, School of Social Sciences, University of Southampton.
  6. Pearce, David W. & Atkinson, Giles D., 1993. "Capital theory and the measurement of sustainable development: an indicator of "weak" sustainability," Ecological Economics, Elsevier, Elsevier, vol. 8(2), pages 103-108, October.
  7. Hartwick, John M, 1995. "Constant Consumption Paths in Open Eocnomies with Exhaustible Resources," Review of International Economics, Wiley Blackwell, Wiley Blackwell, vol. 3(3), pages 275-83, October.
  8. Heinz Welsch & Frank Stähler, 1990. "On externalities related to the use of exhaustible resources," Journal of Economics, Springer, Springer, vol. 51(2), pages 177-195, June.
  9. Geir B. Asheim, 1986. "Hartwick's Rule in Open Economies," Canadian Journal of Economics, Canadian Economics Association, Canadian Economics Association, vol. 19(3), pages 395-402, August.
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Cited by:
  1. Klepper, Gernot & Stähler, Frank, 1996. "The international dimension of sustainability policies," Kiel Working Papers 754, Kiel Institute for the World Economy.
  2. Harris, Michael & Fraser, Iain, 2002. "Natural resource accounting in theory and practice: A critical assessment," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, Australian Agricultural and Resource Economics Society, vol. 46(2), June.
  3. Atkinson, G. & Hamilton, K., 2002. "International trade and the 'ecological balance of payments'," Resources Policy, Elsevier, Elsevier, vol. 28(1-2), pages 27-37.

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