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This dissertation presents two essays on endogenous growth and renewable resources. The first essay explores the role of renewable resources in a tractable model of endogenous growth driven by horizontal and vertical innovation in the closed economy. The model is tractable in that it yields a...
Persistent link: https://www.econbiz.de/10009475394
In the property rights theory of the firm, control over assets (ownership) affords bargaining power in the case of re-negotiation, providing incentives for parties to make relationship specific investments. The models predict that property rights will be allocated so as to maximise surplus...
Persistent link: https://www.econbiz.de/10009480075
International clamor regarding the potential degradation of the environment in developing countries due to opening to trade has been an important issue that has moved from the streets into academic studies. This dissertation links the effect of opening to trade on resource stocks in developing...
Persistent link: https://www.econbiz.de/10009450725
Taking advantage of randomly-assigned federal mineral rights, the first essay establishes the discount that mineral developers place on oil and gas leases with divided ownership. This discount is interpreted as an expectation of reduced profits as a result of transaction costs incurred in...
Persistent link: https://www.econbiz.de/10009450758