Optimal depletion when development makes an unused resource stock more valuble
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Date
1995-05
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Abstract
Some countries rapidly exploit their natural resource bases to increase incomes and achieve development goals. When increased incomes eventuate, stocks of certain resource currently being depleted attain enhanced future values when demands for the utilization of services based on theses stocks increase with development. This paper analyses the trade off between development and conservation goals in a model determining optimal savings and depletion time paths.
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Keywords
Trade, Development goals, Natural resource