Resource extraction, international trade and production with the resource

A. Aydin Cecen

Research output: Contribution to journalArticlepeer-review

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 languageEnglish
Pages (from-to)254-257
Number of pages4
JournalEnergy Economics
Volume13
Issue number4
DOIs
StatePublished - Oct 1991

Keywords

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