Abstract
In a competitive equilibrium the price of a natural resource will be increasing at a rate equal to the social time preference rate, but in a monopoly market, the price will be increasing at less than social time preference rate. If the producer countries utilise their monopoly of production and sale of a natural resource for the purpose of developing their economies, the price of the natural resource will be growing at the rate at which the producer countries' economies are growing, whether or not the sales proceeds are used to finance their investment programmes, fully or partly.
Recommended Citation
Rao, Vaman, "Natural Resource Pricing and Economic Development" (1975). UMR-MEC Conference on Energy / UMR-DNR Conference on Energy. 83, pp. 280-283.
https://scholarsmine.mst.edu/umr-mec/83
Meeting Name
2nd Annual UMR-MEC Conference on Energy (1975: Oct. 7-9, Rolla, MO)
Document Type
Article - Conference proceedings
Session
Economics of Energy
Document Version
Final Version
File Type
text
Language(s)
English
Rights
© 1976 University of Missouri--Rolla, All rights reserved.
Publication Date
09 Oct 1975
Included in
Electrical and Computer Engineering Commons, Mechanical Engineering Commons, Mining Engineering Commons, Nuclear Engineering Commons, Petroleum Engineering Commons
