The instrument of extractive reserves has been advertised as a novel approach to reconciling biodiversity conservation and economic development. The empirical literature analyzing extractive reserves, however, delivers an ambiguous assessment of its success. This paper asks whether extractive reserves are capable of delivering long-term development benefits, even in theory. The analysis is carried out by assessing the long-run viability of an extractive reserve under a set of favorable conditions, through a dynamic model of spatial competition. We show that for extractive reserves to be even theoretically viable, a number of restrictive conditions have to be fulfilled.
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Article provided by University of Wisconsin Press in its journal Land Economics.
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Find related papers by JEL classification: Q32 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Exhaustible Resources and Economic Development
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