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Rapacious resource depletion, excessive investment and insecure property rights
van der Ploeg, Frederick - 2010
with insecure property rights, we analyze how resources are transformed into productive capital to sustain consumption. We … allow property rights to improve as the country transforms natural resources into capital. The ensuing power struggle about … result, the country substitutes away from resources to capital too rapidly and invests more than predicted by the Hartwick …
Persistent link: https://www.econbiz.de/10010270457
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Rapacious Resource Depletion and Excessive Investment Fuelled by Rival Factions and Insecure Property Rights
Ploeg, Frederick van der - Oxford Centre for the Analysis of Resource-Rich … - 2009
with insecure property rights, we analyze how resources are transformed into productive capital to sustain consumption. We … allow property rights to improve as the country transforms natural resources into capital. The ensuing power struggle about … result, the country substitutes away from resources to capital too rapidly and invests more than predicted by the Hartwick …
Persistent link: https://www.econbiz.de/10008670351
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Why Do Many Resource-Rich Countries Have Negative Genuine Saving?
Ploeg, Frederick van der - Oxford Centre for the Analysis of Resource-Rich … - 2008
less than the marginal resource rents equals the expected capital gains on reserves of natural resources plus the expected … up with lower sustainable consumption and are worse off, especially if seepage is strong, the number of rival groups is …
Persistent link: https://www.econbiz.de/10008670361
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Genuine Saving and the Voracity Effect
Ploeg, Frederick van der - Department of Economics, European University Institute - 2007
Many resource-rich countries have negative genuine saving rates, so deplete their exhaustible natural resource wealth faster than they build up wealth in other assets. This phenomenon is stronger in more fractionalized countries with poor legal systems. We explain this by a power struggle about...
Persistent link: https://www.econbiz.de/10005557743
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Voracious Transformation of a Common Natural Resource into Productive Capital
Ploeg, Frederick van der - Oxford Centre for the Analysis of Resource-Rich … - 2008
. As a result, the country substitutes away from resources to capital too rapidly so that it saves and invests more than a … rapid accumulation of physical capital. World Bank measures of genuine saving are likely to be over-estimated. This …
Persistent link: https://www.econbiz.de/10008670341
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Rapacious resource depletion, excessive investment and insecure property rights
Ploeg, Frederick van der - 2010
; Hartwick rule ; capital ; sustainable consumption ; fractionalization ; seepage ; insecure property rights ; differential game … with insecure property rights, we analyze how resources are transformed into productive capital to sustain consumption. We … allow property rights to improve as the country transforms natural resources into capital. The ensuing power struggle about …
Persistent link: https://www.econbiz.de/10003942714
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Rapacious Resource Depletion, Excessive Investment and Insecure Property Rights
van der Ploeg, Rick - 2013
with insecure property rights, we analyze how resources are transformed into productive capital to sustain consumption. We … allow property rights to improve as the country transforms natural resources into capital. The ensuing power struggle about … result, the country substitutes away from resources to capital too rapidly and invests more than predicted by the Hartwick …
Persistent link: https://www.econbiz.de/10013095003
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Managing the Exploitation of Natural Assets: Lessons for low income countries
Collier, Paul; Venables, Anthony J - Oxford Centre for the Analysis of Resource-Rich … - 2008
This paper provides an analytic review of the upstream aspects of the exploitation of natural resources: the assignment of ownership rights, taxation, the discovery process, extraction, renewability, and clean-up. It sets these issues within the principal-agent framework. It proposes that the...
Persistent link: https://www.econbiz.de/10008670337
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Managing Resource Revenues: Lessons for low income countries
Collier, Paul; Venables, Anthony J - Oxford Centre for the Analysis of Resource-Rich … - 2008
This paper explores the choices faced by developing country governments that have received substantial revenues from natural resources. The economic principles underlying the choices between consumption, domestic investment, and the accumulation of foreign assets are analysed. The priority...
Persistent link: https://www.econbiz.de/10008670356
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Battle for Climate and Scarcity Rents: Beyond the Linear-Quadratic Case
Kagan, Mark; van der Ploeg, Frederick; Withagen, Cees A. - 2014
The nature of oil demand influences the oil extraction rate and hence has implications for both the timing of oil exhaustion and optimal climate policy. We analyse what role oil demand specification plays in strategic interactions b between an oil-importing country producing final goods and...
Persistent link: https://www.econbiz.de/10010435786