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The Economics of Natural Resource Extraction: A Primer for Development Economists

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  • Salant, Stephen W

Abstract

As developing countries become major consumers of the global supply of commercial energy, it is essential to understand the determinants of future energy prices. At the same time, many developing countries are relying on exports of their own natural resources - tropical hardwoods, oil, tin, gold, and other minerals - to generate badly needed foreign exchange. Government policies influence how much of a resource is extracted today and how much is saved for the future. Flawed policies needlessly waste precious national wealth. Copyright 1995 by Oxford University Press.

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Bibliographic Info

Article provided by World Bank Group in its journal World Bank Research Observer.

Volume (Year): 10 (1995)
Issue (Month): 1 (February)
Pages: 93-111

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Handle: RePEc:oup:wbrobs:v:10:y:1995:i:1:p:93-111

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Cited by:
  1. Eduardo Engel & Ronald Fischer, 2008. "Optimal Resource Extraction Contracts under Threat of Expropriation," Cowles Foundation Discussion Papers 1636, Cowles Foundation for Research in Economics, Yale University.
  2. Eduardo Ley & Molly K. Macauley & Stephen W. Salant, . "Spatially and intertemporally efficient waste management: The costs of interstate flow control," Working Papers 97-07, FEDEA.

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