Resource depletion and sustainability in small open economies
Publication
, Journal Article
Vincent, JR; Panayotou, T; Hartwick, JM
Published in: Journal of Environmental Economics and Management
January 1, 1997
Exogenous price changes affect the amount that a small country exporting natural resource commodities must invest to sustain its consumption level. The necessary amount is given by the difference between Hotelling rent and the discounted sum of future terms-of-trade effects (capital gains). The latter term is found to be large relative to the former in the case of petroleum depletion in Indonesia. This suggests that resource-rich countries will need to invest more than previously expected to sustain their consumption levels, if natural resource prices continue their long-term historical decline.
Duke Scholars
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Published In
Journal of Environmental Economics and Management
DOI
ISSN
0095-0696
Publication Date
January 1, 1997
Volume
33
Issue
3
Start / End Page
274 / 286
Related Subject Headings
- Agricultural Economics & Policy
- 3801 Applied economics
- 1402 Applied Economics
- 1401 Economic Theory
- 0502 Environmental Science and Management
Citation
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Vincent, J. R., Panayotou, T., & Hartwick, J. M. (1997). Resource depletion and sustainability in small open economies. Journal of Environmental Economics and Management, 33(3), 274–286. https://doi.org/10.1006/jeem.1997.0992
Vincent, J. R., T. Panayotou, and J. M. Hartwick. “Resource depletion and sustainability in small open economies.” Journal of Environmental Economics and Management 33, no. 3 (January 1, 1997): 274–86. https://doi.org/10.1006/jeem.1997.0992.
Vincent JR, Panayotou T, Hartwick JM. Resource depletion and sustainability in small open economies. Journal of Environmental Economics and Management. 1997 Jan 1;33(3):274–86.
Vincent, J. R., et al. “Resource depletion and sustainability in small open economies.” Journal of Environmental Economics and Management, vol. 33, no. 3, Jan. 1997, pp. 274–86. Scopus, doi:10.1006/jeem.1997.0992.
Vincent JR, Panayotou T, Hartwick JM. Resource depletion and sustainability in small open economies. Journal of Environmental Economics and Management. 1997 Jan 1;33(3):274–286.
Published In
Journal of Environmental Economics and Management
DOI
ISSN
0095-0696
Publication Date
January 1, 1997
Volume
33
Issue
3
Start / End Page
274 / 286
Related Subject Headings
- Agricultural Economics & Policy
- 3801 Applied economics
- 1402 Applied Economics
- 1401 Economic Theory
- 0502 Environmental Science and Management