Capital accumulation and resource depletion: a Hartwick Rule counterfactual

"How rich would resource-abundant countries be if they had actually followed the Hartwick Rule (invest resource rents in other assets) over the past 30 years? Hamilton, Ruta, and Tajibaeva use time series data on investments and rents on exhaustible resource extraction for 70 countries to answe...

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Bibliographic Details
Main Author: Hamilton, Kirk 1951- (Author)
Format: Electronic eBook
Language:English
Published: [Washington, D.C] World Bank 2005
Series:Policy research working paper 3480
Subjects:
Online Access:Volltext
Summary:"How rich would resource-abundant countries be if they had actually followed the Hartwick Rule (invest resource rents in other assets) over the past 30 years? Hamilton, Ruta, and Tajibaeva use time series data on investments and rents on exhaustible resource extraction for 70 countries to answer this question. The results are striking: Gabon, Trinidad and Tobago, and Venezuela would all be as wealthy as the Republic of Korea, while Nigeria would be five times as well off as it is currently. The authors also derive a more general rule for sustainability--maintain positive constant genuine investment--and use this to draw further empirical results. This paper--a product of the Environment Department--is part of a larger effort in the department to foster sustainable development"--World Bank web site
Item Description:Includes bibliographical references. - Title from PDF file as viewed on 1/10/2005
Erscheinungsjahr in Vorlageform:[2005]
Weitere Ausgabe: Hamilton, Kirk : Capital accumulation and resource depletion
Physical Description:1 Online-Ressource (16 Seiten)