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Appraisal of natural resources rents and economic development

Srđan Jović, Goran Maksimović and David Jovović

Resources Policy, 2016, vol. 50, issue C, 289-291

Abstract: Economic development could be analyzed according to different inputs. As the inputs natural resources rents should be consider for the investigation of the economic development. In this study 5 natural resources rents were investigated in order to determine which of the natural resource rent has the highest influence on the economic development. The economic development was analyzed based on gross domestic product (GDP). Soft computing method was used to perform the sensitivity analysis of the GDP according to the 5 natural resources rents. Coal rents, forest rents, mineral rents, natural gas rents and oil rents were used as the inputs. According to results, forest rents has the highest dominance on the GDP. In other words GDP has highest variation with small changes in the forest rents.

Keywords: Economic development; Natural resources rents; Forecasting; Gross domestic product (search for similar items in EconPapers)
Date: 2016
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Handle: RePEc:eee:jrpoli:v:50:y:2016:i:c:p:289-291