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Adjusted-Productivity Growth for Resource Rents: Kuwait Oil Industry

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  • Bassim Shebeb

Abstract

Using the data from Kuwait oil industry for the period 2002¨C2012, this paper has attempted to answer the question how the incorporation of the exhaustible resource rent can affect the multifactor productivity (MFP) growth rate of an exhaustible resource extracting industry. As such it re-examines the notion of incorporating the exhaustible resource (oil) rents in the growth accounting. Such incorporation produces considerable different results compared to the results obtained from the classical growth accounting procedures. This implies that an appropriate growth model for an exhaustible resources-based industry (economy) should take into account the total resource rents to avoid any miscalculation (inaccuracy) in the growth rate of MFP.

Suggested Citation

  • Bassim Shebeb, 2016. "Adjusted-Productivity Growth for Resource Rents: Kuwait Oil Industry," Applied Economics and Finance, Redfame publishing, vol. 3(2), pages 128-135, May.
    • Handle: RePEc:rfa:aefjnl:v:3:y:2016:i:2:p:128-135
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    More about this item

    Keywords

    multifactor productivity; exhaustible resources; Hotelling and Ricardian rents;
    All these keywords.

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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