IDEAS home Printed from https://ideas.repec.org/a/eco/journ2/2017-06-16.html
   My bibliography  Save this article

Hydrocarbon Market in Countries with Developing Economy: Development Scenario

Author

Listed:
  • Michael Evgenievich Kosov

    (Department of Public Finance, Financial University under the Government of the Russian Federation, Russian Federation,)

  • Ravil Gabdullaevich Akhmadeev

    (Department of Accounting and Taxation, Plekhanov Russian University of Economics, Russian Federation,)

  • Vladimir Mikhailovich Smirnov

    (Department of Economic Theory, Financial University under the Government of the Russian Federation, Russian Federation,)

  • Sergey Yuryevich Popkov

    (Department of Asset Management and Financial Law, Moscow City Government University of Management Moscow, Russian Federation)

  • Inna Nikolaevna Rycova

    (Sectorial Economy Center, Financial Research Institute of the Ministry of Finance of the Russian Federation, Russian Federation)

Abstract

Hydrocarbon resources represent cumulative wealth of a country because they form for many millions of years. At the same time, the use of such resources is taking place all the time, from year to year. These two circumstances have predetermined two aspects of the hydrocarbon market research a tactical aspect connected with the annual use by a country of its resources, and a strategic aspect connected with accounting for the remaining the raw material given exploration of new deposits. The undertaken study of the qualities of resource prices confirmed the synchronization effect of international countries-exporters losses because of unfavourable prices at the international raw materials markets. The scientific research offers to use indicators of tactical, strategic and integral dependence of a national economy on natural resources, taking into consideration the fact that emerging countries are multiresource producers. Taking a comprehensive strategic resource assessment of a country s dependence as a basis, we are offering an order of weighing local resource characteristics, which, in turn, will help a wider practical use of monitoring of emerging countries resource dependence.

Suggested Citation

  • Michael Evgenievich Kosov & Ravil Gabdullaevich Akhmadeev & Vladimir Mikhailovich Smirnov & Sergey Yuryevich Popkov & Inna Nikolaevna Rycova, 2017. "Hydrocarbon Market in Countries with Developing Economy: Development Scenario," International Journal of Energy Economics and Policy, Econjournals, vol. 7(6), pages 128-135.
  • Handle: RePEc:eco:journ2:2017-06-16
    as

    Download full text from publisher

    File URL: https://www.econjournals.com/index.php/ijeep/article/download/5851/3437
    Download Restriction: no

    File URL: https://www.econjournals.com/index.php/ijeep/article/view/5851/3437
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. 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.
    2. Halvor Mehlum & Karl Moene & Ragnar Torvik, 2006. "Institutions and the Resource Curse," Economic Journal, Royal Economic Society, vol. 116(508), pages 1-20, January.
    3. Knobel, Alexander, 2013. "The risks of fiscal policy in countries rich in natural resources," Ekonomicheskaya Politika / Economic Policy, Russian Presidential Academy of National Economy and Public Administration, pages 29-38, October.
    4. Hodler, Roland, 2006. "The curse of natural resources in fractionalized countries," European Economic Review, Elsevier, vol. 50(6), pages 1367-1386, August.
    5. Matsuyama, Kiminori, 1992. "Agricultural productivity, comparative advantage, and economic growth," Journal of Economic Theory, Elsevier, vol. 58(2), pages 317-334, December.
    6. Gylfason, Thorvaldur, 2001. "Natural resources, education, and economic development," European Economic Review, Elsevier, vol. 45(4-6), pages 847-859, May.
    7. Robinson, James A. & Torvik, Ragnar & Verdier, Thierry, 2006. "Political foundations of the resource curse," Journal of Development Economics, Elsevier, vol. 79(2), pages 447-468, April.
    8. Baland, Jean-Marie & Francois, Patrick, 2000. "Rent-seeking and resource booms," Journal of Development Economics, Elsevier, vol. 61(2), pages 527-542, April.
    9. Maty Konte, 2013. "A curse or a blessing? Natural resources in a multiple growth regimes analysis," Applied Economics, Taylor & Francis Journals, vol. 45(26), pages 3760-3769, September.
    10. Leonard Wantchekon & Andrew Healy, 1999. "The “Game†of Torture," Journal of Conflict Resolution, Peace Science Society (International), vol. 43(5), pages 596-609, October.
    11. R. M. Solow, 1974. "Intergenerational Equity and Exhaustible Resources," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 41(5), pages 29-45.
    12. V. Kryukov & E. Pavlov., 2012. "An Approach to Social and Economic Assessment of Resource Regime in an Oil and Gas Sector (The Case of the USA)," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 10.
    13. Joseph Stiglitz, 1974. "Growth with Exhaustible Natural Resources: Efficient and Optimal Growth Paths," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 41(5), pages 123-137.
    14. repec:hoo:wpaper:e-92-3 is not listed on IDEAS
    15. Corden, W Max & Neary, J Peter, 1982. "Booming Sector and De-Industrialisation in a Small Open Economy," Economic Journal, Royal Economic Society, vol. 92(368), pages 825-848, December.
    16. Partha Dasgupta & Geoffrey Heal, 1974. "The Optimal Depletion of Exhaustible Resources," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 41(5), pages 3-28.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Vadim Ponkratov & Andrey Pozdnyaev & Nikolay Kuznetsov, 2018. "Evaluating the Impact of Russian Excise Duty on Oil Products on the Development of Oil Refining and Oil Industry," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 414-425.
    2. repec:ers:journl:v:volumexxi:y:2018:i:issue4:p:414-425 is not listed on IDEAS

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Frederick van der Ploeg, 2011. "Natural Resources: Curse or Blessing?," Journal of Economic Literature, American Economic Association, vol. 49(2), pages 366-420, June.
    2. Waqar Ahmed Wadho, 2014. "Education, Rent seeking and the Curse of Natural Resources," Economics and Politics, Wiley Blackwell, vol. 26(1), pages 128-156, March.
    3. Sun, Xiaohua & Ren, Junlin & Wang, Yun, 2022. "The impact of resource taxation on resource curse: Evidence from Chinese resource tax policy," Resources Policy, Elsevier, vol. 78(C).
    4. Bhattacharyya, Sambit & Hodler, Roland, 2010. "Natural resources, democracy and corruption," European Economic Review, Elsevier, vol. 54(4), pages 608-621, May.
    5. Collier, Paul & Goderis, Benedikt, 2012. "Commodity prices and growth: An empirical investigation," European Economic Review, Elsevier, vol. 56(6), pages 1241-1260.
    6. Alssadek, Marwan & Benhin, James, 2023. "Natural resource curse: A literature survey and comparative assessment of regional groupings of oil-rich countries," Resources Policy, Elsevier, vol. 84(C).
    7. Cheng, Zhonghua & Li, Lianshui & Liu, Jun, 2020. "Natural resource abundance, resource industry dependence and economic green growth in China," Resources Policy, Elsevier, vol. 68(C).
    8. Dauvin, Magali & Guerreiro, David, 2017. "The Paradox of Plenty: A Meta-Analysis," World Development, Elsevier, vol. 94(C), pages 212-231.
    9. Matsen, Egil & Torvik, Ragnar, 2005. "Optimal Dutch disease," Journal of Development Economics, Elsevier, vol. 78(2), pages 494-515, December.
    10. Collier, Paul & Goderis, Benedikt, 2008. "Commodity Prices, Growth, and the Natural Resource Curse: Reconciling a Conundrum," MPRA Paper 17315, University Library of Munich, Germany.
    11. Kaznacheev, Peter, 2013. "Resource Rents and Economic Growth: Economic and institutional development in countries with a high share of income from the sale of natural resources. Analysis and recommendations based on internatio," EconStor Research Reports 121950, ZBW - Leibniz Information Centre for Economics.
    12. Kolstad, Ivar & Søreide, Tina, 2009. "Corruption in natural resource management: Implications for policy makers," Resources Policy, Elsevier, vol. 34(4), pages 214-226, December.
    13. Dong-Hyeon Kim & Shu-Chin Lin, 2017. "Natural Resources and Economic Development: New Panel Evidence," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 66(2), pages 363-391, February.
    14. Blanco, Luisa & Grier, Robin, 2012. "Natural resource dependence and the accumulation of physical and human capital in Latin America," Resources Policy, Elsevier, vol. 37(3), pages 281-295.
    15. Waqar Wadho & Sadia Hussain, 2023. "Ethnic diversity, concentration of political power and the curse of natural resources," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 40(1), pages 113-137, April.
    16. Dauvin, Magali & Guerreiro, David, 2017. "The Paradox of Plenty: A Meta-Analysis," World Development, Elsevier, vol. 94(C), pages 212-231.
    17. Wu, Sanmang & Lei, Yalin, 2016. "Study on the mechanism of energy abundance and its effect on sustainable growth in regional economies: A case study in China," Resources Policy, Elsevier, vol. 47(C), pages 1-8.
    18. 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.
    19. Lotfalipour, Mohammad Reza & sargolzaie, Ali & Salehnia, Narges, 2022. "Natural resources: A curse on welfare?," Resources Policy, Elsevier, vol. 79(C).
    20. Eisgruber, Lasse, 2013. "The resource curse: Analysis of the applicability to the large-scale export of electricity from renewable resources," Energy Policy, Elsevier, vol. 57(C), pages 429-440.

    More about this item

    Keywords

    resource dependence of an economy; emerging states; development strategy; coal production; oil and gas exports; budget;
    All these keywords.

    JEL classification:

    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
    • F3 - International Economics - - International Finance

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eco:journ2:2017-06-16. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Ilhan Ozturk (email available below). General contact details of provider: http://www.econjournals.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.