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International Rules for Trade in Natural Resources

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  • Collier Paul

    (Oxford University)

  • Venables Anthony J.

    (Oxford University)

Abstract

This paper investigates the scope for international rules to address market failures in trade in natural resources and the associated international transactions of prospecting and investment in resource exploitation. We argue that several market failures are likely to have substantial costs. However, due to the distinctive features of natural resources, the market failures are particular to them. The ad hoc approaches which have attempted to address them to date leave scope for a more systematic and comprehensive approach by the WTO, but the distinctive features of natural resources imply that this could not simply be an application of the rules appropriate for other forms of trade.

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Bibliographic Info

Article provided by De Gruyter in its journal Journal of Globalization and Development.

Volume (Year): 1 (2010)
Issue (Month): 1 (January)
Pages: 1-19

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Handle: RePEc:bpj:globdv:v:1:y:2010:i:1:n:8

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Web page: http://www.degruyter.com

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Cited by:
  1. Michele Ruta & Anthony J venables, 2012. "International Trade in Natural Resources: Practice and policy," OxCarre Working Papers 084, Oxford Centre for the Analysis of Resource Rich Economies, University of Oxford.
  2. Bernard Hoekman & Will Martin, 2012. "Reducing Distortions in International Commodity Markets," World Bank Other Operational Studies 10041, The World Bank.
  3. Raimund Bleischwitz & Monika Dittrich & Chiara Pierdicca, 2012. "Coltan from Central Africa, International Trade and Implications for Any Certification," Bruges European Economic Policy Briefings 23, European Economic Studies Department, College of Europe.

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