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Property rights and the dynamics of North-South trade, chapter 8

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  • Chichilnisky, Graciela

Abstract

This chapter focuses on how the lack of property rights in North-South trade of primary resources can distort trade and threaten the sustainablility of development. This issue is examined within a two-region world economy where one region, the North, represents the industrial countries, and the other, the South, the developing countries. The lack of property rights characterizes a class of environmental problems arising from the use of renewable resources as inputs in the production of traded goods. Focus is placed on renewable resources because it can be argued that sustainable development is all about the proper management of the world's natural resources. There are two significant departures from traditional theory. The first is that one input in production is an environmental resource. The second major departure from traditional theory is that the regions are characterized by their property rights regimes based on the source from which resources are extracted. It is shown that differences in property rights are sufficient to explain differing trade patterns between two otherwise identical regions, even if these regions have the same endowments, preferences, and technologies. The succeeding sections of this chapter provide the following. Lemma 1 studies population dynamics, and the connection between property rights and the long-run supply curve of the renewable resource. The next step is to analyze market behavior. The general equilibrium model of North-South trade is defined, and solved in one explicit resolving equation provided in the Appendix.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 8514.

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Date of creation: 1996
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Handle: RePEc:pra:mprapa:8514

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Keywords: sustainable development; property rights; renewable resources; general equilibrium;

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References

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  1. Chichilnisky, Graciela, 1986. "A general equilibrium theory of North-South trade," MPRA Paper 8810, University Library of Munich, Germany.
  2. Barbier, E B & Burgess, J C, 2001. " The Economics of Tropical Deforestation," Journal of Economic Surveys, Wiley Blackwell, Wiley Blackwell, vol. 15(3), pages 413-33, July.
  3. Chichilnisky, Graciela, 1990. "On the mathematical foundations of political economy," MPRA Paper 8123, University Library of Munich, Germany.
  4. Chichilnisky, Graciela, 1994. "Traditional comparative advantage vs. increasing returns to scale: NAFTA and the GATT," MPRA Paper 8360, University Library of Munich, Germany.
  5. Chichilnisky, Graciela, 1994. "North-South Trade and the Global Environment," American Economic Review, American Economic Association, American Economic Association, vol. 84(4), pages 851-74, September.
  6. Chichilnisky, Graciela, 1981. "Terms of trade and domestic distribution : Export-led growth with abundant labour," Journal of Development Economics, Elsevier, Elsevier, vol. 8(2), pages 163-192, April.
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Cited by:
  1. Peter Walkenhorst, 2004. "Domestic And International Environmental Impacts Of Agricultural Trade Liberalisation," International Trade, EconWPA 0401010, EconWPA.

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