Optimal exporting of exhaustible resources with endogenous trade revenue: the case of a resource-scarce and capital-short economy
Article Abstract:
An analysis of the dynamic trade problem of an open economy with scarce resources and insufficient capital focuses on the optimal trade behavior of an economy that offers scarce resources in exchange for much needed capital. Endogenous export revenue is allowed to simulate economic reality. Results show that trading scarce exhaustible resources for foreign capital requires strong conditions. The trade practice is found to be unsustainable on a long-term basis even if exporting resources is initially optimal.
Publication Name: Resource and Energy Economics
Subject: Petroleum, energy and mining industries
ISSN: 0928-7655
Year: 1995
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Optimally eating a stochastic cake: a recursive utility approach
Article Abstract:
Consumption of non-renewable resources depends on the knowledge about the available stock. A stochastic model for optimal use of non-renewable resources under technical progress and stock uncertainties is described.
Publication Name: Resource and Energy Economics
Subject: Petroleum, energy and mining industries
ISSN: 0928-7655
Year: 2003
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Sustainability of an economy with an exhaustible resource: a viable control approach
Article Abstract:
Using a viability kernel approach, sustainability when an exhaustible natural resource used in production, is studied.
Publication Name: Resource and Energy Economics
Subject: Petroleum, energy and mining industries
ISSN: 0928-7655
Year: 2007
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