Valuation and Treatment of Depletable Resources in the National Accounts

Jonathan Levin

No 1991/073, IMF Working Papers from International Monetary Fund

Abstract: To assess the feasibility of the national accounts treating as assets depletable resources extracted for sale, the paper examines three issues: 1. whether treating natural resources as assets when they are used requires symmetrical accounting when they enter economic reserves; 2. at what stage between existence in nature and extraction entry to reserves could be counted; and 3. how the value of the in-ground natural resource component could be determined. It suggests treating natural resources entering reserves as “imports” from the environmental account added to the capital account, registering additions to reserves at a stage involved in economic activities, and valuing reserves by procedures related to market price.

Keywords: WP; value; natural resource; cost; national wealth; fixed capital; resource base; opportunity cost; net price method; economic value; ground value; share of the extracted sales price; Natural resources; Non-renewable resources; Oil; Income; Europe; Global (search for similar items in EconPapers)
Pages: 23
Date: 1991-08-01
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Citations: View citations in EconPapers (1)

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