Economic growth,international trade,and the depletion or conservation of renewable natural resources |
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| Institution: | 1. CER-ETH – Center of Economic Research at ETH Zurich, Switzerland;2. University of Western Brittany (UBO), AMURE and Department of Economics, Kiel University, Germany;3. Department of Economics, Kiel University and Kiel Institute for the World Economy, Germany;1. School of Statistics, Jiangxi University of Finance and Economics, Nanchang, Jiangxi 330013, PR China;2. Research Center of Applied Statistics, Jiangxi University of Finance and Economics, Nanchang, Jiangxi 330013, PR China;3. Collaborative Innovation Center for Energy Economics and Energy Policy, China Institute for Studies in Energy Policy, Xiamen University, Fujian 361005, PR China;1. International Monetary Fund, 700 19th St. N.W., Washington, DC 20431, United States;2. Department of Economics, Duke University, Durham, NC 27708, United States;3. School of Economics, University of East Anglia, Norwich, United Kingdom;1. IPAG Business School, Paris;2. Department of Spatial Economics, Vrije Universiteit Amsterdam, The Netherlands;3. Tinbergen Institute, The Netherlands;4. Department of Social Sciences, Wageningen University, The Netherlands;1. Department of Economics, University of Hagen, Universitätsstraße 41, 58097 Hagen, Germany;2. Department of Economics, University of Hamburg, Von-Melle-Park 5, 20146 Hamburg, Germany;1. IMUVA and Dpto, Matemática Aplicada, Facultad de Ciencias, Universidad de Valladolid, Campus Miguel Delibes Paseo Belén 7, 47011 Valladolid, Spain;2. IMUVA and Dpto, Economía Aplicada, Facultad de Ciencias Económicasy Empresariales, Universidad de Valladolid, Avda. Valle Esgueva, 6, 47011 Valladolid, Spain |
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| Abstract: | Conservation of renewable natural resources and promotion of economic growth are both sustainable development goals. Here, we study the interdependency between economic growth, international trade, and the use of renewable natural resources—under alternative institutional settings of either open access or full property rights—in an endogenous growth model. We find that if the resource is depleted over time, consumption growth is reduced. Economic growth and international trade only impact resource use when the resource is harvested under full property rights. Then, widening international trade can lead countries to shift from conservation to depletion. Changes in the institutional setting of resource use in one country may have repercussions on trading partners. Our results indicate potential trade-offs between the sustainable development goals and imply that policies focusing on resource use or trade (e.g., international trade bans or certified trade) are not sufficient to prevent resource depletion. |
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| Keywords: | Economic growth International trade Common-pool resource Renewable resource Property rights Open access Depletion Conservation O44 Q01 F18 F64 |
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