HAL : halshs-00470655, version 1

DOI : 10.1016/j.jet.2010.07.005

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Journal of Economic Theory 145, 6 (2010) 2435-2447

With Exhaustible Resources, Can A Developing Country Escape From The Poverty Trap?

Cuong Le Van 1, 2, 3, Katheline Schubert 1, 2, Tu-Anh Nguyen 4

(11/2010)

This paper studies the optimal growth of a developing non-renewable natural resource producer. It extracts the resource from its soil, and produces a single consumption good with man-made capital. More- over, it can sell the extracted resource abroad and use the revenues to buy an imported good, which is a perfect substitute of the domes- tic consumption good. The domestic technology is convex-concave, so that the economy may be locked into a poverty trap. We show that the extent to which the country will escape from the poverty trap depends, besides the interactions between its technology and its impatience, on the characteristics of the resource revenue function, on the level of its initial stock of capital, and on the abundance of the natural resource.

1 :	Centre d'économie de la Sorbonne (CES)
	CNRS : UMR8174 – Université Paris I - Panthéon-Sorbonne
2 :	Ecole d'Économie de Paris - Paris School of Economics (EEP-PSE)
	Ecole d'Économie de Paris
3 :	University of Exeter Business School
	University of Exeter Business School
4 :	Central Insitute of Economic Management
	Central Insitute of Economic Management

Équipe de recherche : Axe Economie mathématique et jeux Axe Environnement

Discipline

:

Sciences de l'Homme et Société/Economie et finances

Mots-Clés : optimal growth – non-renewable resource – convex-concave technology – poverty trap – resource curse

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Contributeur : Cuong Le Van <>

Soumis le : Mercredi 7 Avril 2010, 11:12:24

Dernière modification le : Mardi 6 Novembre 2012, 16:48:18