Resource extraction, international trade and production with the resource

A. Aydin Cecen

doi:10.1016/0140-9883(91)90005-K

Resource extraction, international trade and production with the resource

A. Aydin Cecen

Economics

Research output: Contribution to journal › Article › peer-review

1 Scopus citations

Abstract

The paper analyses the optimal growth of a small economy that extracts an exhaustible resource both for domestic production and export purposes. It is shown that when the exogenously given resource price is constant, extraction for export will stop in finite time whereas extraction for domestic production will continue. Yet, if the resource price increases exponentially, extraction will continue to support both sectors.

Original language	English
Pages (from-to)	254-257
Number of pages	4
Journal	Energy Economics
Volume	13
Issue number	4
DOIs	https://doi.org/10.1016/0140-9883(91)90005-K
State	Published - Oct 1991

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10.1016/0140-9883(91)90005-K

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AB - The paper analyses the optimal growth of a small economy that extracts an exhaustible resource both for domestic production and export purposes. It is shown that when the exogenously given resource price is constant, extraction for export will stop in finite time whereas extraction for domestic production will continue. Yet, if the resource price increases exponentially, extraction will continue to support both sectors.

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DO - 10.1016/0140-9883(91)90005-K

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JO - Energy Economics

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Resource extraction, international trade and production with the resource

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