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Policies towards Natural Resources and Investment in International Trade

In: Economics, Growth and Sustainable Environments

Author

Listed:
  • Alistair Ulph
  • David Ulph

Abstract

In his book The Economics of Natural Resources, Richard Lecomber analysed carefully the many reasons why actual markets may be inadequate for allocating exhaustible natural resources over time — for example, common property problems, imperfect competition, absence of markets for dealing with risk. Central to the book, however, is the notion that natural resources are assets, and that a key source of biases in the rate of resource utilisation will be distortions in asset markets — markets for translating forgone consumption today into assets such as physical or human capital to produce higher consumption in the future.

Suggested Citation

  • Alistair Ulph & David Ulph, 1988. "Policies towards Natural Resources and Investment in International Trade," Palgrave Macmillan Books, in: David Collard & David Pearce & David Ulph (ed.), Economics, Growth and Sustainable Environments, chapter 11, pages 173-199, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-19014-0_11
    DOI: 10.1007/978-1-349-19014-0_11
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    Cited by:

    1. Young, T. & Burton, M.P., 1991. "Agricultural Sustainability Definition and Implications for Agricultural and Trade Policy," Manchester Working Papers in Agricultural Economics 232828, University of Manchester, School of Economics, Agricultural Economics Department.

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