TITLE

Non-Renewable Resources, Extraction Technology, and Endogenous Growth

AUTHOR(S)
Stuermer, Martin; Schwerhoff, Gregor
PUB. DATE
December 2015
SOURCE
Working Papers Series (Federal Reserve Bank of Dallas);Dec2015, Issue 1506, preceding p2
SOURCE TYPE
Working Paper
DOC. TYPE
Article
ABSTRACT
We add an extractive sector to an endogenous growth model of expanding varieties and directed technological change. Firms increase their economically extractable stocks of non-renewable resources through R&D investment in extraction technology and reduce their stocks through extraction. We show how the geological distribution of the non-renewable resource interacts with technological change. Our model accommodates long-term trends in non-renewable resource markets - namely stable prices and exponentially increasing extraction - for which we present data going back to 1792. The model suggests that over the long term, development of new extraction technologies neutralizes the increasing demand for non-renewable resources in industrializing countries such as China.
ACCESSION #
112221973

 

Related Articles

  • CAN'T BUY ME CHANGE. Jensen, Derrick // Earth Island Journal;Autumn2011, Vol. 26 Issue 3, p51 

    In this article the author comments on the promotion of ecological sustainability through buying better things. The author highlights that no matter how green an industrial economy declares itself, it is inherently unsustainable. Since an industrial economy is based on the use of nonrenewable...

  • Synchronized peak-rate years of global resources use. Seppelt, Ralf; Manceur, Ameur M.; Jianguo Liu; Fenichel, Eli P.; Klotz, Stefan // Ecology & Society;2014, Vol. 19 Issue 4, p1 

    Many separate studies have estimated the year of peak, or maximum, rate of using an individual resource such as oil. However, no study has estimated the year of peak rate for multiple resources and investigated the relationships among them. We exploit time series on the appropriation of 27...

  • Running on empty. Watt, Bruce; Kremmer, Christopher // Businessdate;May2005, Vol. 13 Issue 2, p8 

    The article discusses the concerns arising out of the fast depleting oil reserves and its impact on the global economy. According to the author, the Peak Oil theory that suggests that the world will face a sudden, cataclysmic decline in supplies after global production of oil peaks in the next...

  • Activities.  // Businessdate;May2005, Vol. 13 Issue 2, p8 

    The article presents a to-do list related to the exploitation of nonrenewable natural resources. Some of the topics covered in the list include: peak oil theory; implications for economies of declining supply and increasing demand for oil, especially by newly-industrialised nations such as China...

  • Desregulación y ganancias extraordinarias en el sector hidrocarburífero argentino. Barrera, Mañano A. // Política y Cultura;2013, Issue 40, p177 

    During the 1990s, in Argentina, as in other Latin American countries, profound changes were implemented consolidated the neoliberal model. In the national oil and gas sector were eliminated state regulations, measures granted unrestricted dominance "market" over the State. This contributed to a...

  • Global Resource Depletion. MAGDOFF, FRED // Monthly Review: An Independent Socialist Magazine;Jan2013, Vol. 64 Issue 8, p13 

    The article discusses the relation between resource depletion and global population growth. It is said that renewable resources should be used to replace nonrenewable resources on which civilization depends. Other topics include economic costs and environmental degradation caused by deeper...

  • BUSINESS INNOVATION USING INDUSTRIAL ECOLOGY. ALBU, Angela // Metalurgia International;Sep2011, Vol. 16 Issue 9, p28 

    For a long period of time our technological society functioned in an unsustainable way, consuming the non-renewable resources with very high rates, polluting the environment and considering the nature a thing without any value. In these conditions were developed businesses in all fields with...

  • PRIKAZ ZAKONSKE REGULATIVE IZ PODRUÄŒJA PRIRODNOG KAMENA U FEDERACIJI BiH. Kurtović, Azra // e-Zbonik: Electronic collection of papers of the Faculty of Civi;Dec2013, Issue 6, p78 

    The legal status of mining resources, or mineral raw materials, method and conditions of the management of mineral raw materials, protection, mining works, occupational safety measures, suspension of works and permanent cessation of mining operations, technical documentation and design, mine...

  • The food industry's sustainability challenge.  // Food Manufacture;Feb2020, p8 

    Richard Naish is head of the food and drink team at Walker Morris, host sponsor of Food Manufacture's Business Leaders' Forum 2020. The food manufacturing industry will face growing pressure from consumers and legislators to improve the sustainability of production. The UK Government and the...

Share

Read the Article

Courtesy of THE LIBRARY OF VIRGINIA

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics