Siebert The Resource Sector in an Open Economy

Erscheinungsjahr 2012
ISBN: 978-3-642-46484-3
Verlag: Springer
Format: PDF
Kopierschutz: 1 - PDF Watermark

E-Book, Englisch, Band 200, 164 Seiten, eBook

Reihe: Lecture Notes in Economics and Mathematical Systems

the economics of exhaustible " assets presents a whole forest of intriguing problems." 1 Harald Hotelling ) The two energy price shocks in 1973/74 and 1979/80 have arosed interest in the new area of resource economics. The affluent societies of Europe, North America and Japan were confronted with the new scarcity paradigm of the "space ship earth" with only a limited supply of natural resources aboard whereas population is growing and the environment can not accomodate the increasing volume of pollutants. The problem of natural resource scarcity gives rise to the question how resource-dependent economies like European coun tries and Japan are affected by an increase in resource prices and how they can adjust to rising energy prices. The new para digm also has focused new interest on the problem of the re source-extracting firm and of the resource-exporting country. The Hotelling revival of resource economics has given new im portance to the behavior and to the policy issues of resource exporting countries.

Zielgruppe

Research

Autoren/Hrsg.

Siebert, H.

Weitere Mitwirkende

Enders, K.

Gerken, E.

Herberg, H.

Long, N.Van

Porter, M.G.

Siebert, H.

Inhaltsverzeichnis

I. Allocation Policy in a Resource-Exporting Country.- 1. The Role of Resource Exports.- 2. The Impact of the Resource Sector on the Economy.- 3. Intertemporal Allocation.- 4. Some Policy Issues.- II. On the Short-Run and Long-Run Effects of a Resource Boom.- 1. Introduction.- 2. Possible Causes of a Resource Boom.- 3. Short-Run Effects of a Resource Boom.- 4. Some Long-Run Considerations.- 5. Concluding Remarks.- III. More on the Consequences of a Resource Boom and the Cures of the Dutch Disease.- 1. Introduction.- 2. The Model.- 3. Consequences of a Resource Boom.- 4. Policies Against Adverse Boom Effects.- 5. Extensions and General Conclusions.- IV. Taxation of the Australian Resource Sector.- 1. Some Institutional Background.- 2. Mineral Profits, Taxation and Riskiness.- 3. Mineral Exports — Impact on other Sectors.- 4. Taxation and the Sale of Mineral Leases.- 5. The Objectives of Taxation Policy.- 6. Auctioning of Leases versus Resource Taxation.- 7. Exhaustability and Taxation.- 8. Bonanzas.- 9. The Northern Territory — The Proposed Mineral Royalty Bill.- 10. Conclusion.- V. Diversification and Stabilization in a Resource-Exporting Country.- 1. Introduction.- 2. Disturbances in a Small Commodity Exporting Country.- 3. Analytical Framework.- 4. Results.- 5. Summary and Conclusions.- Author Index.