Policies towards Natural Resources and Investment in International Trade

Alistair Ulph and David Ulph

Chapter 11 in Economics, Growth and Sustainable Environments, 1988, pp 173-199 from Palgrave Macmillan

Abstract: Abstract In his book The Economics of Natural Resources, Richard Lecomber analysed carefully the many reasons why actual markets may be inadequate for allocating exhaustible natural resources over time — for example, common property problems, imperfect competition, absence of markets for dealing with risk. Central to the book, however, is the notion that natural resources are assets, and that a key source of biases in the rate of resource utilisation will be distortions in asset markets — markets for translating forgone consumption today into assets such as physical or human capital to produce higher consumption in the future.

Keywords: Interest Rate; Capital Market; Market Power; Asset Market; Price Rule (search for similar items in EconPapers)
Date: 1988
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DOI: 10.1007/978-1-349-19014-0_11

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