Prices of durable nonrenewable natural resources under stochastic investment opportunities

On étudie l'évolution du prix d'une ressource naturelle non renouvelable dans le cas où cette ressource est durable, c'est-à-dire qu'une fois extraite elle devient un actif productif détenu hors terre. On emprunte à la théorie de la détermination du prix des actifs pour ce faire. Le choix de portefeuille porte alors sur les actifs suivant : un stock de ressource non renouvelable détenu en terre, qui ne procure aucun service productif; un stock de ressource détenu hors terre, qui procure un flux de services productifs; un stock d'un bien composite, qui peut être détenu soit sous forme de capital productif, soit sous forme d'une obligation dont le rendement est donn e. Les productivités du secteur de production du bien composite et du secteur de l'extraction de la ressource évoluent de façon stochastique. On montre que la prédiction que l'on peut tirer quant au sentier de prix de la ressource diffère considérablement de celle qui découle de la règle d'Hotelling élémentaire et qu'aucune prédiction non ambiguë quant au comportement du sentier de prix ne peut être obtenue de façon analytique.

The Taxation of Nonrenewable Natural Resources

We provide an analytical overview of the distortionary eff ects of some common forms of taxes faced by the nonrenewable resources sector of the economy. In the category of taxes meant speci fically to capture the resource rent, we look at a speci c severance tax, an 'ad valorem' severance tax, a profi t tax and a 'lump-sum' tax, with emphasis on their e ffects on the extraction decisions over time and on the initial reserves to be developed. In the category of taxes meant for all sectors of the economy, we look at the corporate income tax and its special provision for the resource sector in the form of a depletion allowance, with emphasis on the eff ects on the intra-industry resource extraction decisions and on the inter-industry allocation of investment.

The limits of human development and the use of energy and natural resources

The development of nations is an unquestionable requirement. A lot of challenges concerning health, education and economy are present. A discussion on these development models has occupied the minds of decision makers in recent years. When energy supply and demand is considered, the situation becomes critical and the crucial question is: how to improve the quality of life of developing countries based on available models of development that are related to the life style of developed countries, for which the necessary use and waste of energy are present? How much energy is essential to humanity for not so as to endangering the survival conditions of future generations? the human development index (HDI) establishes the relationship among energy use, economic growth and social growth. Here it can be seen that 75% of the world population has a significant energy consumption potential. This is a strong reason to consider that the sustainable development concepts on energy policies are strategic to the future of the planet. This paper deals with the importance of seeking alternative development models for human development balance, natural resources conservation and environment through rational energy use concepts. (c) 2004 Elsevier Ltd. All rights reserved.

The intergovernmental allocation of revenue from natural resources: finding a balance between centripetal and centrifugal pressure

Includes bibliography

Natural resources within the Union of South American Nations: status and trends for a regional development agenda

Includes bibliography

Non-market valuation of natural and environmental resources in Central America and the Caribbean

Includes bibliography

Estudio general sobre los recursos naturales renovables para la alimentación y la agricultura en el Gran Caribe = Overview on the state of renewable natural resources for food and agriculture in the Wider Caribbean

Incluye Bibliografía

Población, tecnologías, recursos naturales y medio ambiente: ecodesarrollo, un aporte a la definición de estilos de desarrollo para América Latina = Population, technology, natural resources and the environment: eco-development, a contribution to the definition of development styles for Latin America

Incluye Bibliografía

Natural resources: status and trends towards a regional development agenda in Latin America and the Caribbean. Contribution of the Economic Commission for Latin America and the Caribbean to the Community of Latin American and Caribbean States

Includes bibliography.