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Open-Access Renewable Resources as Inputs and International Trade: A Small Open Economy

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  • Akihiko Yanase
  • Weijia Dong

Abstract

This paper develops a small-open-economy model in which two final goods are produced by using a primary factor and a resource good, which has an open-access property and is produced from the primary factor. Under the assumption that only the final goods are tradable, the economy's patterns of specialization both in the temporary equilibrium and in the steady state are derived. It is shown that in the steady state, the economy either completely specializes in one good or diversifies production, depending on the labor endowment and the growth rate of the resource. The long-run effects of trade on the resource stock and national welfare are also examined.

Suggested Citation

  • Akihiko Yanase & Weijia Dong, 2011. "Open-Access Renewable Resources as Inputs and International Trade: A Small Open Economy," Asia-Pacific Journal of Accounting & Economics, Taylor & Francis Journals, vol. 18(3), pages 263-285.
    • Handle: RePEc:taf:raaexx:v:18:y:2011:i:3:p:263-285
    DOI: 10.1080/16081625.2011.9720884
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    References listed on IDEAS

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    1. John, A & Pecchenino, R, 1994. "An Overlapping Generations Model of Growth and the Environment," Economic Journal, Royal Economic Society, vol. 104(427), pages 1393-1410, November.
    2. Brander, James A. & Scott Taylor, M., 1997. "International trade between consumer and conservationist countries," Resource and Energy Economics, Elsevier, vol. 19(4), pages 267-297, November.
    3. James A. Brander & M. Scott Taylor, 1997. "International Trade and Open-Access Renewable Resources: The Small Open Economy Case," Canadian Journal of Economics, Canadian Economics Association, vol. 30(3), pages 526-552, August.
    4. TAKARADA Yasuhiro, 2009. "Transboundary Renewable Resource and International Trade," Discussion papers 09041, Research Institute of Economy, Trade and Industry (RIETI).
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    Cited by:

    1. Akihiho Yanase, 2013. "Free trade may save a renewable resource from exhaustion," Economics Bulletin, AccessEcon, vol. 33(1), pages 226-233.

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