IDEAS home Printed from https://ideas.repec.org/p/wpa/wuwpot/0501004.html
   My bibliography  Save this paper

The Economics Of Natural Resource Scarcity And Implications For Development Policy And International Cooperation

Author

Listed:
  • Edgar L. Feige

    (University of Wisconsin-Madison)

  • David M. Blau

    (University of Wisconsin-Madison)

Abstract

This paper analyses the problem of natural resource scarcity and its implications for economic development and international cooperation. We examine the meaning and measurement of resource "scarcity" and its implications for economic growth and development. The paper describes the conditions required for the efficient use of exhaustible natural resources and for optimal inter-temporal efficient paths and considers the consequences of uncertainty, risk, externalities, disequilibria and institutional constraints on the market’s ability to achieve efficient resource utilization. Particular attention is paid to the implications of the cartelization of natural resource industries and the disturbing tendency to use political rather than economic motivations as the basis for resource production and distribution decisions. Reference: Resources and Development: Natural Resource Polices and Economic Development in an Interdependent World. P. Dorner and M.A.El- Shafie (eds), University of Wisconsin Press, 1980

Suggested Citation

  • Edgar L. Feige & David M. Blau, 2005. "The Economics Of Natural Resource Scarcity And Implications For Development Policy And International Cooperation," Others 0501004, University Library of Munich, Germany.
  • Handle: RePEc:wpa:wuwpot:0501004
    Note: Type of Document - pdf; pages: 40
    as

    Download full text from publisher

    File URL: https://econwpa.ub.uni-muenchen.de/econ-wp/othr/papers/0501/0501004.pdf
    Download Restriction: no

    More about this item

    Keywords

    Natural resource scarcity; cartels; OPEC; energy prices; economic development; non-renewable resources; efficiency;

    JEL classification:

    • Q3 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation
    • Q4 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy
    • L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance
    • L41 - Industrial Organization - - Antitrust Issues and Policies - - - Monopolization; Horizontal Anticompetitive Practices
    • D6 - Microeconomics - - Welfare Economics
    • D8 - Microeconomics - - Information, Knowledge, and Uncertainty

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wpa:wuwpot:0501004. 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: (EconWPA) or (Christopher F. Baum). General contact details of provider: https://econwpa.ub.uni-muenchen.de .

    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.

    We have no references for this item. You can help adding them by using 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 RePEc Author Service 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.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.