Natural resources and patterns of overtaking

Volker Böhm, Tomoo Kikuchi, George Vachadze

研究成果: Article査読

抄録

This paper shows how intergenerational trading of non-depletable natural resources may affect investment in physical capital, implying distinct patterns of overtaking between countries. Specifically, the results indicate that the elasticity of the marginal utility of natural resources plays a crucial role. When the elasticity is less than unity, a resource-abundant country may be overtaken by a resource-scarce country. In this case, savings are withdrawn from productive investment to acquire natural resources. Conversely, when it is greater than unity, the reverse pattern of overtaking may occur since investment in natural resources and in physical capital go hand in hand.

本文言語English
ページ(範囲)167-177
ページ数11
ジャーナルInternational Journal of Economic Theory
10
2
DOI
出版ステータスPublished - 2014 6月
外部発表はい

ASJC Scopus subject areas

  • 経済学、計量経済学

フィンガープリント

「Natural resources and patterns of overtaking」の研究トピックを掘り下げます。これらがまとまってユニークなフィンガープリントを構成します。

引用スタイル