Resource-Use Regulations and Development: Long-Run Economic Dynamics

Frederik Noack (), Marie–Catherine Riekhof () and Martin Quaas ()
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Frederik Noack: Department of Economics, University of Kiel
Marie–Catherine Riekhof: ETH Zurich, Switzerland
Martin Quaas: Department of Economics, University of Kiel, https://www.eree.uni-kiel.de/en/team/martin-f.-quaas

No 15/219, CER-ETH Economics working paper series from CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich

Abstract: This paper explores the long-run development of an economy with a traditional sector based on common-pool resource use, a modern resource-independent sector with fixed entry costs, and an imperfect capital market. We show theoretically that introducing resource-use regulations increases incomes in the traditional sector and that this can trigger a development process with labor reallocation to the modern sector. Allowing trade of resource-use rights, or distributing resource-use rights unequally, broadens the scope for development.

Keywords: natural resources and development; use rights and development; wealth distribution and occupational choice (search for similar items in EconPapers)
JEL-codes: O13 O15 O44 Q20 Q28 (search for similar items in EconPapers)
Pages: 51 pages
Date: 2015-08
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