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L’économie minière ou pétrolière : deux familles résident sous le même toit

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  • Giraud, Pierre-Noël

    (CERNA)

  • Nappi, Carmine

    (École des Hautes Études Commerciales)

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    Abstract

    This paper presents the work of a group of mineral or petroleum economists arguing that a significant contribution to this field of economics may be made even if you are not an Hotelling disciple. The group's publications place a greater emphasis on factors such as the demand for mineral resources and the declining trend in their intensity of use, technological change, as well as the econometric modelling of their industries and markets. Their contribution allows a better understanding of the forces structuring the organization of the resource industry and permits a more relevant discussion of the public policies affecting it. Finally, they point out that the ultimate availability of exhaustible resources cannot be known, that mineral discoveries are constantly being made and that the speed of technological change in the production and consumption of these resources is not slowing down. Given these factors, their work questions the relevance of the hypothesis that a fixed stock of exhaustible resources is available at each point in time and that the true cost of its use by the current generation is the lower level available to future generations. Cet article fait mieux connaître les travaux d’un groupe d’économistes qui tout en ne suivant pas les traces d’Hotelling estiment non seulement faire partie de la grande famille de l’économie minière ou pétrolière, mais aussi y contribuer significativement. Leurs travaux accordent une grande importance à des facteurs tels la demande des ressources et le déclin de leur intensité d’utilisation, les changements technologiques ou encore la modélisation économétrique des industries et marchés miniers ou énergétiques. Ces travaux permettent une meilleure connaissance des forces qui déterminent l’organisation d’une industrie de ressources non renouvelables, ainsi qu’une discussion plus pertinente des politiques publiques la concernant. Enfin, en signalant que la disponibilité ultime de ces ressources ne peut être connue, que les efforts d’exploration continuent à rapporter des fruits et que le rythme des changements technologiques au niveau de la production et de la consommation ne semble pas ralentir, ces travaux ont contribué à remettre en question l’hypothèse voulant qu’il existe à chaque point dans le temps un stock fixe de ressources épuisables et que leur utilisation par la génération présente s’effectue au coût d’une consommation moindre pour les générations futures.

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    Bibliographic Info

    Article provided by Société Canadienne de Science Economique in its journal L'Actualité économique.

    Volume (Year): 70 (1994)
    Issue (Month): 4 (décembre)
    Pages: 477-497

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    Handle: RePEc:ris:actuec:v:70:y:1994:i:4:p:477-497

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    1. Furtado, Andre T. & Suslick, Saul B., 1993. "Forecasting of petroleum consumption in Brazil using the intensity of energy technique," Energy Policy, Elsevier, vol. 21(9), pages 958-968, September.
    2. R. H. Coase, 1972. "Industrial Organization: A Proposal for Research," NBER Chapters, in: Economic Research: Retrospect and Prospect Vol 3: Policy Issues and Research Opportunities in Industrial Organization, pages 59-73 National Bureau of Economic Research, Inc.
    3. Stiglitz, Joseph E. & Dasgupta, Partha, 1982. "Market structure and resource depletion: A contribution to the theory of intertemporal monopolistic competition," Journal of Economic Theory, Elsevier, vol. 28(1), pages 128-164, October.
    4. A. M. Ulph & G. M. Folie, 1980. "Exhaustible Resources and Cartels: An Intertemporal Nash-Cournot Model," Canadian Journal of Economics, Canadian Economics Association, vol. 13(4), pages 645-58, November.
    5. Radetzki, M., 1984. "Strategic metal markets : Prospects for producer cartels," Resources Policy, Elsevier, vol. 10(4), pages 227-240, December.
    6. Nappi, Carmine, 1985. "Pricing behaviour and market power in North American non-ferrous metal industries," Resources Policy, Elsevier, vol. 11(3), pages 213-224, September.
    7. Salant, Stephen W, 1976. "Exhaustible Resources and Industrial Structure: A Nash-Cournot Approach to the World Oil Market," Journal of Political Economy, University of Chicago Press, vol. 84(5), pages 1079-93, October.
    8. Moran, Theodore H., 1987. "Managing an oligopoly of would-be sovereigns: the dynamics of joint control and self-control in the international oil industry past, present, and future," International Organization, Cambridge University Press, vol. 41(04), pages 575-607, September.
    9. Tracy R. Lewis & Richard Schmalensee, 1982. "Cartel Deception in Nonrenewable Resource Markets," Bell Journal of Economics, The RAND Corporation, vol. 13(1), pages 263-271, Spring.
    10. Richard J. Gilbert, 1978. "Dominant Firm Pricing Policy in a Market for an Exhaustible Resource," Bell Journal of Economics, The RAND Corporation, vol. 9(2), pages 385-395, Autumn.
    11. Griffin, James M, 1985. "OPEC Behavior: A Test of Alternative Hypotheses," American Economic Review, American Economic Association, vol. 75(5), pages 954-63, December.
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