Trade and Migration with Renewable Natural Resources : Out-of-Steady-State Dynamics
Commodity price increases associated with the entry of China, India, and other countries into the world economy have led to increased pressure on common-property renewable natural resources. The problem is particularly worrisome for economies that...
| Main Authors: | , |
|---|---|
| Format: | Policy Research Working Paper |
| Language: | English |
| Published: |
2012
|
| Subjects: | |
| Online Access: | http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20100513165438 http://hdl.handle.net/10986/3795 |
| id |
okr-10986-3795 |
|---|---|
| recordtype |
oai_dc |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
AGRICULTURE ALLOCATION ALLOCATION OF RESOURCES BANK OFFICE BENCHMARK BUDGET CONSTRAINT CAPITAL ACCUMULATION CAPITAL FLOWS CAPITAL GAIN CAPITAL INFLOWS CAPITAL MARKETS CAPITAL STOCK CAPITAL STOCKS COMMODITIES COMMODITY COMMODITY EXPORT COMMODITY PRICE COMMODITY PRICES COMPETITIVE MARKETS CONSUMPTION EXPENDITURES COST OF CAPITAL COUNTRY OF ORIGIN DERIVATIVE DERIVATIVES DERIVED DEMAND DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPING ECONOMY DEVELOPMENT ECONOMICS DISCOUNT RATE DISCOUNTED VALUE DISEASES DISEQUILIBRIUM ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC THEORY ELASTICITY ENVIRONMENTAL DEGRADATION ENVIRONMENTAL EXTERNALITIES ENVIRONMENTAL IMPACT ENVIRONMENTAL RESOURCES ENVIRONMENTAL SUSTAINABILITY EQUATIONS EQUILIBRIUM EXPECTED RETURNS EXPENDITURE EXPORTS EXTERNALITY FERTILITY FULL EMPLOYMENT GROWTH RATE GROWTH RATES HOLDING HOME COUNTRY IMMIGRANTS IMMIGRATION IMMIGRATION POLICIES IMMIGRATION POLICY INCOME INSTITUTIONAL CONSTRAINT INSTITUTIONAL CONSTRAINTS INTEREST RATE INTERNATIONAL BANK INTERNATIONAL COMMUNITY INTERNATIONAL TRADE INVESTING KNOWLEDGE DEVELOPMENT KNOWLEDGE DIFFUSION LABOR FORCE LIBERALIZATION OF TRADE LOW-INCOME COUNTRIES MARGINAL COST MARGINAL UTILITY MARGINAL VALUE MARKET ACCESS MARKET PRICE MARKET SIZE MIGRATION MULTILATERAL ORGANIZATIONS NATIONAL INCOME NATURAL RESOURCE NATURAL RESOURCES NEGATIVE EXTERNALITIES NEGATIVE EXTERNALITY NUMBER OF WORKERS OPEN ECONOMY OPPORTUNITY COST OPTIMIZATION PARTIAL EQUILIBRIUM ANALYSIS PER CAPITA INCOME POLICY DIALOGUE POLICY RESEARCH POLICY RESEARCH WORKING PAPER POLITICAL ECONOMY POPULATION DYNAMICS POSITIVE PRODUCTION PRICE INCREASES PRODUCTION FUNCTIONS PRODUCTIVE ASSETS PROGRESS PROPERTY RIGHTS RATE OF GROWTH RATE OF RETURN RATE OF RETURN ON CAPITAL RATE OF RETURN TO CAPITAL REAL INCOME REGULATORY SYSTEMS REMITTANCES RESOURCE DEPLETION RESOURCE USE RESPECT RURAL AREAS SAVINGS STOCK OF CAPITAL TAX TAX REVENUES TOTAL FACTOR PRODUCTIVITY TOTAL OUTPUT TRADE BALANCE TRADE LIBERALIZATION TRADE POLICIES TRADE POLICY TRADE REGIME TRADE TAX TRADE TAXES UTILITY FUNCTION VALUE OF OUTPUT WATER RESOURCES WATER SUPPLIES WORLD ECONOMY WORLD MARKET WORLD TRADE |
| spellingShingle |
AGRICULTURE ALLOCATION ALLOCATION OF RESOURCES BANK OFFICE BENCHMARK BUDGET CONSTRAINT CAPITAL ACCUMULATION CAPITAL FLOWS CAPITAL GAIN CAPITAL INFLOWS CAPITAL MARKETS CAPITAL STOCK CAPITAL STOCKS COMMODITIES COMMODITY COMMODITY EXPORT COMMODITY PRICE COMMODITY PRICES COMPETITIVE MARKETS CONSUMPTION EXPENDITURES COST OF CAPITAL COUNTRY OF ORIGIN DERIVATIVE DERIVATIVES DERIVED DEMAND DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPING ECONOMY DEVELOPMENT ECONOMICS DISCOUNT RATE DISCOUNTED VALUE DISEASES DISEQUILIBRIUM ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC THEORY ELASTICITY ENVIRONMENTAL DEGRADATION ENVIRONMENTAL EXTERNALITIES ENVIRONMENTAL IMPACT ENVIRONMENTAL RESOURCES ENVIRONMENTAL SUSTAINABILITY EQUATIONS EQUILIBRIUM EXPECTED RETURNS EXPENDITURE EXPORTS EXTERNALITY FERTILITY FULL EMPLOYMENT GROWTH RATE GROWTH RATES HOLDING HOME COUNTRY IMMIGRANTS IMMIGRATION IMMIGRATION POLICIES IMMIGRATION POLICY INCOME INSTITUTIONAL CONSTRAINT INSTITUTIONAL CONSTRAINTS INTEREST RATE INTERNATIONAL BANK INTERNATIONAL COMMUNITY INTERNATIONAL TRADE INVESTING KNOWLEDGE DEVELOPMENT KNOWLEDGE DIFFUSION LABOR FORCE LIBERALIZATION OF TRADE LOW-INCOME COUNTRIES MARGINAL COST MARGINAL UTILITY MARGINAL VALUE MARKET ACCESS MARKET PRICE MARKET SIZE MIGRATION MULTILATERAL ORGANIZATIONS NATIONAL INCOME NATURAL RESOURCE NATURAL RESOURCES NEGATIVE EXTERNALITIES NEGATIVE EXTERNALITY NUMBER OF WORKERS OPEN ECONOMY OPPORTUNITY COST OPTIMIZATION PARTIAL EQUILIBRIUM ANALYSIS PER CAPITA INCOME POLICY DIALOGUE POLICY RESEARCH POLICY RESEARCH WORKING PAPER POLITICAL ECONOMY POPULATION DYNAMICS POSITIVE PRODUCTION PRICE INCREASES PRODUCTION FUNCTIONS PRODUCTIVE ASSETS PROGRESS PROPERTY RIGHTS RATE OF GROWTH RATE OF RETURN RATE OF RETURN ON CAPITAL RATE OF RETURN TO CAPITAL REAL INCOME REGULATORY SYSTEMS REMITTANCES RESOURCE DEPLETION RESOURCE USE RESPECT RURAL AREAS SAVINGS STOCK OF CAPITAL TAX TAX REVENUES TOTAL FACTOR PRODUCTIVITY TOTAL OUTPUT TRADE BALANCE TRADE LIBERALIZATION TRADE POLICIES TRADE POLICY TRADE REGIME TRADE TAX TRADE TAXES UTILITY FUNCTION VALUE OF OUTPUT WATER RESOURCES WATER SUPPLIES WORLD ECONOMY WORLD MARKET WORLD TRADE López, Ramón Schiff, Maurice Trade and Migration with Renewable Natural Resources : Out-of-Steady-State Dynamics |
| geographic_facet |
South Asia South Asia East Asia and Pacific East Asia and Pacific The World Region The World Region South Asia East Asia Asia |
| relation |
Policy Research working paper ; no. WPS 5310 |
| description |
Commodity price increases associated
with the entry of China, India, and other countries into the
world economy have led to increased pressure on
common-property renewable natural resources. The problem is
particularly worrisome for economies that obtain a large
share of their income from the exploitation of natural
resources in the production of an exportable commodity. This
paper contributes to the analysis by examining the issue in
the framework of a general equilibrium dynamic model and by
solving for both the steady state and the transition
dynamics. The authors show that i) a resource-rich,
capital-poor economy is more likely to be subject to a
"natural resource curse" and complete
(irreversible) depletion of natural resources; ii) the
latter's likelihood rises with the relative commodity
price and labor inflow; iii) a labor inflow under internal
equilibrium results in a higher steady-state capital-labor
ratio and manufacturing output, and unchanged natural
resources and commodity output; iv) import and export taxes
result in larger steady-state natural resources and
commodity output and smaller capital stock and manufacturing
output, and may prevent complete depletion of natural
resources; and v) the latter may also be prevented through
capital inflows (foreign aid), labor outflow (
liberalization of the North's immigration policy),
improved regulation, technical change, and a production tax. |
| format |
Publications & Research :: Policy Research Working Paper |
| author |
López, Ramón Schiff, Maurice |
| author_facet |
López, Ramón Schiff, Maurice |
| author_sort |
López, Ramón |
| title |
Trade and Migration with Renewable Natural Resources : Out-of-Steady-State Dynamics |
| title_short |
Trade and Migration with Renewable Natural Resources : Out-of-Steady-State Dynamics |
| title_full |
Trade and Migration with Renewable Natural Resources : Out-of-Steady-State Dynamics |
| title_fullStr |
Trade and Migration with Renewable Natural Resources : Out-of-Steady-State Dynamics |
| title_full_unstemmed |
Trade and Migration with Renewable Natural Resources : Out-of-Steady-State Dynamics |
| title_sort |
trade and migration with renewable natural resources : out-of-steady-state dynamics |
| publishDate |
2012 |
| url |
http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20100513165438 http://hdl.handle.net/10986/3795 |
| _version_ |
1764388389005557760 |
| spelling |
okr-10986-37952021-04-23T14:02:12Z Trade and Migration with Renewable Natural Resources : Out-of-Steady-State Dynamics López, Ramón Schiff, Maurice AGRICULTURE ALLOCATION ALLOCATION OF RESOURCES BANK OFFICE BENCHMARK BUDGET CONSTRAINT CAPITAL ACCUMULATION CAPITAL FLOWS CAPITAL GAIN CAPITAL INFLOWS CAPITAL MARKETS CAPITAL STOCK CAPITAL STOCKS COMMODITIES COMMODITY COMMODITY EXPORT COMMODITY PRICE COMMODITY PRICES COMPETITIVE MARKETS CONSUMPTION EXPENDITURES COST OF CAPITAL COUNTRY OF ORIGIN DERIVATIVE DERIVATIVES DERIVED DEMAND DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPING ECONOMY DEVELOPMENT ECONOMICS DISCOUNT RATE DISCOUNTED VALUE DISEASES DISEQUILIBRIUM ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC THEORY ELASTICITY ENVIRONMENTAL DEGRADATION ENVIRONMENTAL EXTERNALITIES ENVIRONMENTAL IMPACT ENVIRONMENTAL RESOURCES ENVIRONMENTAL SUSTAINABILITY EQUATIONS EQUILIBRIUM EXPECTED RETURNS EXPENDITURE EXPORTS EXTERNALITY FERTILITY FULL EMPLOYMENT GROWTH RATE GROWTH RATES HOLDING HOME COUNTRY IMMIGRANTS IMMIGRATION IMMIGRATION POLICIES IMMIGRATION POLICY INCOME INSTITUTIONAL CONSTRAINT INSTITUTIONAL CONSTRAINTS INTEREST RATE INTERNATIONAL BANK INTERNATIONAL COMMUNITY INTERNATIONAL TRADE INVESTING KNOWLEDGE DEVELOPMENT KNOWLEDGE DIFFUSION LABOR FORCE LIBERALIZATION OF TRADE LOW-INCOME COUNTRIES MARGINAL COST MARGINAL UTILITY MARGINAL VALUE MARKET ACCESS MARKET PRICE MARKET SIZE MIGRATION MULTILATERAL ORGANIZATIONS NATIONAL INCOME NATURAL RESOURCE NATURAL RESOURCES NEGATIVE EXTERNALITIES NEGATIVE EXTERNALITY NUMBER OF WORKERS OPEN ECONOMY OPPORTUNITY COST OPTIMIZATION PARTIAL EQUILIBRIUM ANALYSIS PER CAPITA INCOME POLICY DIALOGUE POLICY RESEARCH POLICY RESEARCH WORKING PAPER POLITICAL ECONOMY POPULATION DYNAMICS POSITIVE PRODUCTION PRICE INCREASES PRODUCTION FUNCTIONS PRODUCTIVE ASSETS PROGRESS PROPERTY RIGHTS RATE OF GROWTH RATE OF RETURN RATE OF RETURN ON CAPITAL RATE OF RETURN TO CAPITAL REAL INCOME REGULATORY SYSTEMS REMITTANCES RESOURCE DEPLETION RESOURCE USE RESPECT RURAL AREAS SAVINGS STOCK OF CAPITAL TAX TAX REVENUES TOTAL FACTOR PRODUCTIVITY TOTAL OUTPUT TRADE BALANCE TRADE LIBERALIZATION TRADE POLICIES TRADE POLICY TRADE REGIME TRADE TAX TRADE TAXES UTILITY FUNCTION VALUE OF OUTPUT WATER RESOURCES WATER SUPPLIES WORLD ECONOMY WORLD MARKET WORLD TRADE Commodity price increases associated with the entry of China, India, and other countries into the world economy have led to increased pressure on common-property renewable natural resources. The problem is particularly worrisome for economies that obtain a large share of their income from the exploitation of natural resources in the production of an exportable commodity. This paper contributes to the analysis by examining the issue in the framework of a general equilibrium dynamic model and by solving for both the steady state and the transition dynamics. The authors show that i) a resource-rich, capital-poor economy is more likely to be subject to a "natural resource curse" and complete (irreversible) depletion of natural resources; ii) the latter's likelihood rises with the relative commodity price and labor inflow; iii) a labor inflow under internal equilibrium results in a higher steady-state capital-labor ratio and manufacturing output, and unchanged natural resources and commodity output; iv) import and export taxes result in larger steady-state natural resources and commodity output and smaller capital stock and manufacturing output, and may prevent complete depletion of natural resources; and v) the latter may also be prevented through capital inflows (foreign aid), labor outflow ( liberalization of the North's immigration policy), improved regulation, technical change, and a production tax. 2012-03-19T18:39:57Z 2012-03-19T18:39:57Z 2010-05-01 http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20100513165438 http://hdl.handle.net/10986/3795 English Policy Research working paper ; no. WPS 5310 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Publications & Research :: Policy Research Working Paper South Asia South Asia East Asia and Pacific East Asia and Pacific The World Region The World Region South Asia East Asia Asia |