Non-renewable resource depletion and reinvestment: issues and evidence for an oil-exporting country
This essay offers a limited study of income sustainability for one oil-exporting country: Iraq. The nature of the study motivates a discussion of some theoretical issues concerning levels of non-renewable resource depletion and re-investment as well as related questions about the substitutability of man-made and natural capital and critical natural capital. The results of the study, which decomposes oil revenues into consumption and capital portions, suggest that the re-investment in physical capital offset the depletion of natural assets arising from oil extraction in the period under consideration. Because of the lack of data, a complete study of the capital balance is not feasible. Consequently the findings are tentative.
Year of publication: |
2009
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Authors: | YOUSIF, BASSAM |
Published in: |
Environment and Development Economics. - Cambridge University Press. - Vol. 14.2009, 02, p. 211-226
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Publisher: |
Cambridge University Press |
Description of contents: | Abstract [journals.cambridge.org] |
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