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¿Apropiación privada de renta de recursos naturales? El caso del cobre en Chile

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  • Leiva, Benjamín

    (Universidad de Chile)

Abstract

Unexpected increases of natural resource prices can generate rents, value that should be recovered by the State to minimize inefficiencies, avoid arbitrary discrimination between citizens and keep a sustainable trajectory. As a case study about private appropriation of natural resource rent, this work explores the case of copper in Chile since 1990, empirically analyzing if the 12 main private mining companies have recovered in present value more than their investment during their life cycle. The results of this exercise, applicable to other natural resources, indicate that some actually have, capturing about US$40 billion up to 2012. Elaborating an adequate institutional framework for future deposits remain important challenges for Chile to plentifully take advantage its mining potential, as well as for any country with an abundant resource base to better enjoy its natural wealth. For that purpose, a concession known as Least Present Value Revenue (LPVR) is proposed.// Los aumentos de precio de un recurso natural pueden generar renta, cuyo valor debiese ser recuperado por el Estado para minimizar ineficiencias en la economía, evitar discriminaciones arbitrarias entre ciudadanos y mantener una trayectoria sostenible. Como tema de estudio sobre apropiación privada de renta de recursos naturales, este artículo explora el caso del cobre en Chile desde 1990, analizando empíricamente si las principales mineras privadas han recuperado en valor presente más que su inversión. Los resultados del ejercicio, aplicable a otros recursos naturales, indican que algunas mineras sí lo han hecho, captando unos 40?000 millones de dólares hasta 2012. Elaborar una institucionalidad idónea para futuros yacimientos es un importante desafío para que Chile aproveche su potencial minero, así como para que cualquier país con una abundante base de recursos goce plenamente de su riqueza natural. Para tal efecto, se propone la concesión conocida como Mínimo Valor Presente de Ingresos (MVPI)

Suggested Citation

  • Leiva, Benjamín, 2016. "¿Apropiación privada de renta de recursos naturales? El caso del cobre en Chile," El Trimestre Económico, Fondo de Cultura Económica, vol. 0(332), pages .549-572, octubre-d.
    • Handle: RePEc:elt:journl:v:83:y:2016:i:332:p:549-572
    DOI: http://dx.doi.org/10.20430/ete.v83i332.233
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    Cited by:

    1. Leiva, Benjamin, 2020. "Natural resource rent allocation, government quality, and concession design: The case of copper in Chile," Resources Policy, Elsevier, vol. 68(C).
    2. Simón Accorsi & Gino Sturla, "undated". "Una Estimación de la Renta Económica en el Mercado de las Isapres en Chile," Working Papers wp491, University of Chile, Department of Economics.

    More about this item

    Keywords

    cobre; recursos naturales; renta; análisis intertemporal; Mínimo Valor Presente de Ingresos; concesiones; Chile;
    All these keywords.

    JEL classification:

    • D43 - Microeconomics - - Market Structure, Pricing, and Design - - - Oligopoly and Other Forms of Market Imperfection
    • L72 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - Mining, Extraction, and Refining: Other Nonrenewable Resources
    • Q39 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Other

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