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Taxation of Oil Products and GDP Dynamics of Oil-rich Countries

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Author Info
Julien Daubanes () (CER-ETH - Center of Economic Research at ETH Zurich, Switzerland)

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Abstract

This article proposes a complementary explanation for why oil-rich economies have experienced a relative low GDP growth over the last decades: the proportion of taxes in the prices of petroleum products have been globally increasing for the four last decades, thus making oil revenues grow slower than output from manufacturing and yielding a low growth of oil-exporting countries' GDPs. This is illustrated in a two-country model of oil depletion examining why a net oil-exporting country and a net oil-importing country are dierently affected by increasing taxes on the resource use. The hypothesis is constructed on the theory of non-renewable resources taxation. The argument is based on the distributional effects of taxes on exhaustible resources, that are mainly borne by the suppliers. The theoretical predictions are not invalidated when put up against available statistics.

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Publisher Info
Paper provided by CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich in its series Economics working paper series with number 09/102.

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Length: 23 pages
Date of creation: Feb 2009
Date of revision:
Handle: RePEc:eth:wpswif:09-102

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Related research
Keywords: Oil curse; Non-renewable resources; Taxes; Oil revenues; GDP;

Other versions of this item:

Find related papers by JEL classification:
Q3 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation
O4 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance

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  3. James Brander & Slobodan Djajic, 1983. "Rent-Extracting Tariffs and the Management of Exhaustible Resources," Canadian Journal of Economics, Canadian Economics Association, vol. 16(2), pages 288-98, May. [Downloadable!] (restricted)
    Other versions:
  4. Brunnschweiler, Christa N. & Bulte, Erwin H., 2008. "The resource curse revisited and revised: A tale of paradoxes and red herrings," Journal of Environmental Economics and Management, Elsevier, vol. 55(3), pages 248-264, May. [Downloadable!] (restricted)
    Other versions:
  5. Gupta, Sanjeev & Mahler, Walter, 1995. "Taxation of petroleum products : Theory and empirical evidence," Energy Economics, Elsevier, vol. 17(2), pages 101-116, April. [Downloadable!] (restricted)
  6. Ted Bergstrom, 1982. "On Capturing Oil Rents with a National Excise Tax," University of California at Santa Barbara, Economics Working Paper Series 1982A, Department of Economics, UC Santa Barbara. [Downloadable!]
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  7. Matsuyama, Kiminori, 1992. "Agricultural productivity, comparative advantage, and economic growth," Journal of Economic Theory, Elsevier, vol. 58(2), pages 317-334, December. [Downloadable!] (restricted)
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  8. Richard M. Auty, 1997. "Natural Resource Endowment, The State And Development Strategy," Journal of International Development, John Wiley & Sons, Ltd., vol. 9(4), pages 651-663.
  9. Sinclair, Peter J N, 1992. "High Does Nothing and Rising Is Worse: Carbon Taxes Should Keep Declining to Cut Harmful Emissions," The Manchester School of Economic & Social Studies, Blackwell Publishing, vol. 60(1), pages 41-52, March.
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  11. Groth, Christian & Schou, Poul, 2007. "Growth and non-renewable resources: The different roles of capital and resource taxes," Journal of Environmental Economics and Management, Elsevier, vol. 53(1), pages 80-98, January. [Downloadable!] (restricted)
  12. Julien Daubanes, 2008. "Fossil fuels supplied by oligopolies: On optimal taxation and rent capture," Economics Bulletin, Economics Bulletin, vol. 17(13), pages 1-11. [Downloadable!]
    Other versions:
  13. Sachs, Jeffrey D. & Warner, Andrew M., 2001. "The curse of natural resources," European Economic Review, Elsevier, vol. 45(4-6), pages 827-838, May. [Downloadable!] (restricted)
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