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dc.contributor.authorRuta, Micheleen
dc.contributor.authorVenables, Anthony J.en
dc.date.accessioned2012-04-11-
dc.date.accessioned2012-04-19T09:32:32Z-
dc.date.available2012-04-19T09:32:32Z-
dc.date.issued2012-
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
dc.language.isoengen
dc.publisher|aCenter for Economic Studies and ifo Institute (CESifo) |cMunichen
dc.relation.ispartofseries|aCESifo Working Paper |x3778en
dc.subject.jelF10en
dc.subject.jelF13en
dc.subject.jelQ30en
dc.subject.ddc330en
dc.subject.keywordnatural resourcesen
dc.subject.keywordtradeen
dc.subject.keywordexport taxen
dc.subject.keywordtariff escalationen
dc.subject.keywordOPECen
dc.subject.keywordWTOen
dc.subject.keywordterms of tradeen
dc.titleInternational trade in natural resources: Practice and policy-
dc.typeWorking Paperen
dc.identifier.ppn690000839en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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