The capital gains from trade are not enough: Evidence from the environmental accounts of Venezuela and Mexico
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- dc.contributor.author Rubio, M. del Marca
- dc.contributor.other Universitat Pompeu Fabra. Departament d'Economia i Empresa
- dc.date.accessioned 2017-07-26T10:50:35Z
- dc.date.available 2017-07-26T10:50:35Z
- dc.date.issued 2003-05-01
- dc.date.modified 2017-07-23T02:07:43Z
- dc.description.abstract In principle, a country can not endure negative genuine savings for long periods of time without experiencing declining consumption. Nevertheless, theoreticians envisage two alternatives to explain how an exporter of non-renewable natural resources could experience permanent negative genuine savings and still ensure sustainability. The first one alleges that the capital gains arising from the expected improvement in the terms of trade would suffice to compensate for the negative savings of the resource exporter. The second alternative points at technological change as a way to avoid economic collapse. This paper uses the data of Venezuela and Mexico to empirically test the first of these two hypotheses. The results presented here prove that the terms of trade do not suffice to compensate the depletion of oil reserves in these two open economies.
- dc.format.mimetype application/pdfca
- dc.identifier https://econ-papers.upf.edu/ca/paper.php?id=689
- dc.identifier.citation Journal of Environmental Economics and Management, 48, 3, (2004), pp. 1175-1191
- dc.identifier.uri http://hdl.handle.net/10230/1191
- dc.language.iso eng
- dc.relation.ispartofseries Economics and Business Working Papers Series; 689
- dc.rights L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons
- dc.rights.accessRights info:eu-repo/semantics/openAccess
- dc.rights.uri http://creativecommons.org/licenses/by-nc-nd/3.0/es/
- dc.subject.keyword exhaustive resources
- dc.subject.keyword environmental accounts
- dc.subject.keyword net national product
- dc.subject.keyword genuine savings
- dc.subject.keyword foreign trade
- dc.subject.keyword Macroeconomics and International Economics
- dc.title The capital gains from trade are not enough: Evidence from the environmental accounts of Venezuela and Mexicoca
- dc.type info:eu-repo/semantics/workingPaper