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International Rules for Trade in Natural Resources

Author

Listed:
  • Collier Paul

    (Oxford University)

  • Venables Anthony J.

    (Oxford University)

Abstract

This paper investigates the scope for international rules to address market failures in trade in natural resources and the associated international transactions of prospecting and investment in resource exploitation. We argue that several market failures are likely to have substantial costs. However, due to the distinctive features of natural resources, the market failures are particular to them. The ad hoc approaches which have attempted to address them to date leave scope for a more systematic and comprehensive approach by the WTO, but the distinctive features of natural resources imply that this could not simply be an application of the rules appropriate for other forms of trade.

Suggested Citation

  • Collier Paul & Venables Anthony J., 2010. "International Rules for Trade in Natural Resources," Journal of Globalization and Development, De Gruyter, vol. 1(1), pages 1-19, January.
    • Handle: RePEc:bpj:globdv:v:1:y:2010:i:1:n:8
    DOI: 10.2202/1948-1837.1027
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    Citations

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    Cited by:

    1. Julie Ing, 2016. "Adverse selection, commitment and exhaustible resource taxation," CER-ETH Economics working paper series 16/263, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
    2. Charlier, Christophe & Guillou, Sarah, 2014. "Distortion effects of export quota policy: an analysis of the China-Raw Materials dispute," China Economic Review, Elsevier, vol. 31(C), pages 320-338.
    3. Michele Ruta & Anthony J. Venables, 2012. "International Trade in Natural Resources: Practice and Policy," Annual Review of Resource Economics, Annual Reviews, vol. 4(1), pages 331-352, August.
    4. Bernard Hoekman & Will Martin, 2012. "Reducing Distortions in International Commodity Markets," World Bank Publications - Reports 10041, The World Bank Group.
    5. Ing, Julie, 2020. "Adverse selection, commitment and exhaustible resource taxation," Resource and Energy Economics, Elsevier, vol. 61(C).
    6. Joelle Latina & Roberta Piermartini & Michele Ruta, 2011. "Natural resources and non-cooperative trade policy," International Economics and Economic Policy, Springer, vol. 8(2), pages 177-196, June.
    7. Bressand, Albert, 2014. "Proving the old spell wrong," Research Report 14012-GEM, University of Groningen, Research Institute SOM (Systems, Organisations and Management).
    8. repec:hal:spmain:info:hdl:2441/f6h8764enu2lskk9p504jih2g is not listed on IDEAS
    9. Bleischwitz, Raimund & Dittrich, Monika & Pierdicca, Chiara, 2012. "Coltan from Central Africa, international trade and implications for any certification," Resources Policy, Elsevier, vol. 37(1), pages 19-29.
    10. Timothy Josling, 2015. "Trade, Sustainability and the Food and Natural Resource System: Some Examples of Governance Issues," RIVISTA DI STUDI SULLA SOSTENIBILITA', FrancoAngeli Editore, vol. 2015(1), pages 27-43.
    11. Hoekman, Bernard & Martin, Will, 2012. "Reducing distortions in international commodity markets : an agenda for multilateral cooperation," Policy Research Working Paper Series 5928, The World Bank.
    12. Lappi, Pauli, 2020. "On optimal extraction under asymmetric information over reclamation costs," Journal of Economic Dynamics and Control, Elsevier, vol. 119(C).
    13. Bürgi Bonanomi, Elisabeth & Elsig, Manfred & Espa, Ilaria, 2015. "The Commodity Sector and Related Governance Challenges from a Sustainable Development Perspective: The Example of Switzerland Current Research Gaps," Papers 865, World Trade Institute.
    14. Adabor, Opoku, 2023. "The effect of financial development on natural gas resource rent in Ghana," Resources Policy, Elsevier, vol. 83(C).
    15. repec:dgr:rugsom:14012-gem is not listed on IDEAS

    More about this item

    JEL classification:

    • Q32 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Exhaustible Resources and Economic Development
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • P28 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Natural Resources; Environment

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