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dc.contributor.authorRuta, Micheleen_US
dc.contributor.authorVenables, Anthony J.en_US
dc.date.accessioned2012-04-11en_US
dc.date.accessioned2012-04-19T09:32:32Z-
dc.date.available2012-04-19T09:32:32Z-
dc.date.issued2012en_US
dc.identifier.urihttp://hdl.handle.net/10419/57289-
dc.description.abstractNatural resources account for 20% of world trade, and dominate the exports of many countries. Policy is used to manipulate both international and domestic prices of resources, yet this policy is largely outside the disciplines of the WTO. The instruments used include export taxes, price controls, production quotas, and domestic producer and consumer taxes (equivalent to trade taxes if no domestic production is possible). We review the literature, and argue that the policy equilibrium is inefficient. This inefficiency is exacerbated by market failure in long run contracts for exploration and development of natural resources. Properly coordinated policy reforms offer an avenue to resource exporting and importing countries to overcome these inefficiencies and obtain mutual gains.en_US
dc.language.isoengen_US
dc.publisherCESifo Münchenen_US
dc.relation.ispartofseriesCESifo working paper: Trade Policy 3778en_US
dc.subject.jelF10en_US
dc.subject.jelF13en_US
dc.subject.jelQ30en_US
dc.subject.ddc330en_US
dc.subject.keywordnatural resourcesen_US
dc.subject.keywordtradeen_US
dc.subject.keywordexport taxen_US
dc.subject.keywordtariff escalationen_US
dc.subject.keywordOPECen_US
dc.subject.keywordWTOen_US
dc.subject.keywordterms of tradeen_US
dc.titleInternational trade in natural resources: Practice and policyen_US
dc.typeWorking Paperen_US
dc.identifier.ppn690000839en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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