Specialization and non-renewable resources: Ricardo meets Ricardo

Article Abstract:

The theories relating to resource economics presented by Ricardo and Hotelling are discussed. Different non-renewable resources like oil, coal, natural gas etc. have different levels of demand from different sectors like transportation and residences with each resource specializing for each sector. A model integrating the multiple demands and resources showing that Ricardian comparative advantage drives the specialization of resources and Ricardian absolute advantage ascertains the order of resource use over a time, is presented.

Market information - general, Supply and demand

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Cursed by resources or institutions?

Article Abstract:

A study examines the impact of depending on natural resources for economic development. It is revealed that national income reduces when natural resources are used heavily.

National Income

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Natural resources and economic growth: the role of investment

Article Abstract:

A study examines the impact of relying on natural resources for investments and economic development.

Investments

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