The effect of natural resources on a sustainable development policy: The approach of non-sustainable externalities
The debate about the importance of non-renewable resources for economic development between optimists and pessimists shows that the extensive depletion of non-renewable resources, particularly oil, along with a higher level of consumption could have a significant impact on the economic development of future generations. Based on this debate, this paper proposes criteria under which the depletion of non-renewable resources would create excess costs for future generations. Therefore, this paper aims to answer the question "What will be the impact of the depletion of non-renewable resources on sustainable economic development?" Accordingly, a sustainable development policy appears feasible by minimizing non-sustainable externalities which derive from future externalities that weigh the benefits from a previous employment of natural resources. The research based on qualitative analysis clarifies the reasons for and the extents of taking sustainability into account as well as points to difficulties of implementing policies to time the transition towards a sustainable economic development. Finally, the research shows the implications of this approach for environmental degradation, the depletion of non-renewable resources and energy production.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Bazhanov, Andrei, 2006. "Decreasing of Oil Extraction: Consumption behavior along transition paths," MPRA Paper 469, University Library of Munich, Germany.
- Watkins, G.C., 2006. "Oil scarcity: What have the past three decades revealed?," Energy Policy, Elsevier, vol. 34(5), pages 508-514, March.
- R. M. Solow, 1973.
"Intergenerational Equity and Exhaustable Resources,"
103, Massachusetts Institute of Technology (MIT), Department of Economics.
- R. M. Solow, 1974. "Intergenerational Equity and Exhaustible Resources," Review of Economic Studies, Oxford University Press, vol. 41(5), pages 29-45.
- Pearce, David & Hamilton, Kirk & Atkinson, Giles, 1996. "Measuring sustainable development: progress on indicators," Environment and Development Economics, Cambridge University Press, vol. 1(01), pages 85-101, February.
- Dasgupta, Partha & Stiglitz, Joseph, 1981. "Resource Depletion under Technological Uncertainty," Econometrica, Econometric Society, vol. 49(1), pages 85-104, January.
- Dahlman, Carl J, 1979. "The Problem of Externality," Journal of Law and Economics, University of Chicago Press, vol. 22(1), pages 141-62, April.
- Edward B. Barbier, 2005. "Natural Resource-Based Economic Development in History," World Economics, World Economics, Economic & Financial Publishing, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE, vol. 6(3), pages 103-152, July.
- Martinez-Alier, J., 1995. "The environment as a luxury good or "too poor to be green"?," Ecological Economics, Elsevier, vol. 13(1), pages 1-10, April.
- Paul D Raskin, 2000. "Bending the Curve: Toward global sustainability," Development, Palgrave Macmillan, vol. 43(4), pages 67-74, December.
- Ness, Barry & Urbel-Piirsalu, Evelin & Anderberg, Stefan & Olsson, Lennart, 2007. "Categorising tools for sustainability assessment," Ecological Economics, Elsevier, vol. 60(3), pages 498-508, January.
- Anderson, Curt L., 1987. "The production process: Inputs and wastes," Journal of Environmental Economics and Management, Elsevier, vol. 14(1), pages 1-12, March.
- Pillarisetti, J.Ram, 2005. "The World Bank's 'genuine savings' measure and sustainability," Ecological Economics, Elsevier, vol. 55(4), pages 599-609, December.
- Richard Schmalensee & Thomas M. Stoker & Ruth A. Judson, 1998. "World Carbon Dioxide Emissions: 1950-2050," The Review of Economics and Statistics, MIT Press, vol. 80(1), pages 15-27, February.
- Hamilton, Kirk & Clemens, Michael, 1999. "Genuine Savings Rates in Developing Countries," World Bank Economic Review, World Bank Group, vol. 13(2), pages 333-56, May.
- Salo, Seppo & Tahvonen, Olli, 2001. "Oligopoly equilibria in nonrenewable resource markets," Journal of Economic Dynamics and Control, Elsevier, vol. 25(5), pages 671-702, May.
- World Commission on Environment and Development,, 1987. "Our Common Future," OUP Catalogue, Oxford University Press, number 9780192820808, May.
When requesting a correction, please mention this item's handle: RePEc:eee:enepol:v:39:y:2011:i:2:p:990-998. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei)
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 references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link 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 profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.