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Trade Policy and Natural Resource Use: The Case for a Quantitative Restriction

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Author Info
Susana Ferreira ()

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Abstract

This paper presents a simple way for countries to reap the benefits of trade liberalization without exacerbating problems of overexploitation of natural resources. In the context of a Ricardo–Viner dynamic trade model, it is shown that when a binding quantitative restriction regulates extraction of a natural resource, free trade is optimal. This is true even if the quantitative restriction is not optimal. In contrast, in the presence of a suboptimal tax (including a zero tax in the special case of open access) on the use of natural resources, trade liberalization is not necessarily welfare improving. Copyright Springer Science+Business Media, Inc. 2007

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File URL: http://hdl.handle.net/10.1007/s10640-006-9030-2
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Publisher Info
Article provided by European Association of Environmental and Resource Economists in its journal Environmental and Resource Economics.

Volume (Year): 37 (2007)
Issue (Month): 2 (June)
Pages: 361-376
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:kap:enreec:v:37:y:2007:i:2:p:361-376

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Web page: http://www.springerlink.com/link.asp?id=100263

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Related research
Keywords: environmental regulations; natural resources; open access; quantitative restriction; tax; trade liberalization; second-best;

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  1. Krishna, Pravin & Panagariya, Arvind, 2000. "A unification of second best results in international trade," Journal of International Economics, Elsevier, vol. 52(2), pages 235-257, December. [Downloadable!] (restricted)
  2. Brander, James A. & Scott Taylor, M., 1997. "International trade between consumer and conservationist countries," Resource and Energy Economics, Elsevier, vol. 19(4), pages 267-297, November. [Downloadable!] (restricted)
    Other versions:
  3. A.L. Bovenberg & Lawrence H. Goulder & Derek J. Gurney, 2003. "Efficiency Costs of Meeting Industry-Distributional Constraints under Environmental Permits and Taxes," NBER Working Papers 10059, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  4. Richard Horan & Erwin Bulte, 2004. "Optimal and Open Access Harvesting of Multi-Use Species in a Second-Best World," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 28(3), pages 251-272, July. [Downloadable!] (restricted)
  5. Weitzman, Martin L, 1978. "Optimal Rewards for Economic Regulation," American Economic Review, American Economic Association, vol. 68(4), pages 683-91, September. [Downloadable!] (restricted)
  6. Roberts, Marc J. & Spence, Michael, 1976. "Effluent charges and licenses under uncertainty," Journal of Public Economics, Elsevier, vol. 5(3-4), pages 193-208. [Downloadable!] (restricted)
  7. Brander, James A. & Scott Taylor, M., 1998. "Open access renewable resources: Trade and trade policy in a two-country model," Journal of International Economics, Elsevier, vol. 44(2), pages 181-209, April. [Downloadable!] (restricted)
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  8. Chichilnisky, Graciela, 1994. "North-South Trade and the Global Environment," American Economic Review, American Economic Association, vol. 84(4), pages 851-74, September. [Downloadable!] (restricted)
  9. Philippe Quirion, 2004. "Prices versus Quantities in a Second-Best Setting," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 29(3), pages 337-359, November. [Downloadable!] (restricted)
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  10. Copeland Brian R., 1994. "International Trade and the Environment: Policy Reform in a Polluted Small Open Economy," Journal of Environmental Economics and Management, Elsevier, vol. 26(1), pages 44-65, January. [Downloadable!] (restricted)
  11. Lopez, Ramon, 1997. "Environmental externalities in traditional agriculture and the impact of trade liberalization: the case of Ghana," Journal of Development Economics, Elsevier, vol. 53(1), pages 17-39, June. [Downloadable!] (restricted)
  12. Brian R. Copeland & M. Scott Taylor, 2003. "Trade, Growth and the Environment," NBER Working Papers 9823, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  13. H. Scott Gordon, 1954. "The Economic Theory of a Common-Property Resource: The Fishery," Journal of Political Economy, University of Chicago Press, vol. 62, pages 124. [Downloadable!] (restricted)
  14. Gardner M. Brown, 2000. "Renewable Natural Resource Management and Use without Markets," Journal of Economic Literature, American Economic Association, vol. 38(4), pages 875-914, December. [Downloadable!] (restricted)
  15. Gardner Brown, 2000. "Renewable Natural Resource Management and Use Without Markets," Discussion Papers in Economics at the University of Washington 0025, Department of Economics at the University of Washington. [Downloadable!]
  16. J. Neary, 2006. "International Trade and the Environment: Theoretical and Policy Linkages," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 33(1), pages 95-118, 01. [Downloadable!] (restricted)
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  17. James A. Brander & M. Scott Taylor, 1997. "International Trade and Open-Access Renewable Resources: The Small Open Economy Case," Canadian Journal of Economics, Canadian Economics Association, vol. 30(3), pages 526-52, August. [Downloadable!] (restricted)
    Other versions:
  18. Gardner Brown, 2000. "Renewable Natural Resource Management and Use Without Markets," Working Papers 0025, University of Washington, Department of Economics. [Downloadable!]
  19. repec:att:wimass:1920310 is not listed on IDEAS
  20. Erwin Bulte & Edward Barbier, 2005. "Trade and Renewable Resources in a Second Best World: An Overview," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 30(4), pages 423-463, 04. [Downloadable!] (restricted)
  21. Bruneau, Joel F., 2005. "Inefficient environmental instruments and the gains from trade," Journal of Environmental Economics and Management, Elsevier, vol. 49(3), pages 536-546, May. [Downloadable!] (restricted)
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