The Resource Sector in an Open Economy

This title is printed to order. This book may have been self-published. If so, we cannot guarantee the quality of the content. In the main most books will have gone through the editing process however some may not. We therefore suggest that you be aware of this before ordering this book. If in doubt check either the author or publisher’s details as we are unable to accept any returns unless they are faulty. Please contact us if you have any questions.

the economics of exhaustible
assets presents a whole forest of intriguing problems. 1 Harald Hotelling ) The two energy price shocks in 1973/74 and 1979/80 have arosed interest in the new area of resource economics. The affluent societies of Europe, North America and Japan were confronted with the new scarcity paradigm of the space ship earth with only a limited supply of natural resources aboard whereas population is growing and the environment can not accomodate the increasing volume of pollutants. The problem of natural resource scarcity gives rise to the question how resource-dependent economies like European coun tries and Japan are affected by an increase in resource prices and how they can adjust to rising energy prices. The new para digm also has focused new interest on the problem of the re source-extracting firm and of the resource-exporting country. The Hotelling revival of resource economics has given new im portance to the behavior and to the policy issues of resource exporting countries.