Implementing Intergenerational Equity in Goa

Rahul Basu

MPRA Paper from University Library of Munich, Germany

Abstract: Hartwick’s rule says that as mineral resources are extracted from the ground, investments in productive assets need to be made to leave future generations with as much assets as the present generation. This article examines whether mining in Goa meets Hartwick’s rule, and finds that the state government captures only a small fraction of the value of the iron ore extracted from mines it has leased out. It also finds that most of the value of the iron ore is cornered by mining leaseholders, resulting in a significant redistribution of wealth from the poor to the rich. It points to national and sub-national entities that follow Hartwick’s rule, and says there are many best practices that can be easily adopted by India.

Keywords: Intergenerational Equity; Hartwick's Rule; Minerals; Extractive Industries (search for similar items in EconPapers)
JEL-codes: D6 D61 D62 D63 D72 D78 D9 E02 E2 E24 E61 E62 F64 H23 H82 K1 K11 K32 L72 O13 O22 O43 O44 P14 P26 P28 P48 Q01 Q28 Q3 Q32 Q38 Q56 Q57 Q58 (search for similar items in EconPapers)
Date: 2014-12-20
References: View references in EconPapers View complete reference list from CitEc
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Published in Economic & Political Weekly 51.XLIX(2014): pp. 33-37

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