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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
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    Cited by:

    1. 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.
    2. 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.
    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 Other Operational Studies 10041, The World Bank.
    5. 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.
    6. 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.
    7. B├╝rgi 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.

    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 - Economic Systems - - Socialist Systems and Transition Economies - - - Natural Resources; Environment

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