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| Author: | Proops, J. |
| Title: | The growth and distributional consequences of international trade in natural resources and capital goods: a neo-Austrian analysis |
| Journal: | Ecological Economics
2004 : JAN, VOL. 48:1, p. 83-91 |
| Index terms: | Austrian school Capital goods Growth International trade Natural resources |
| Language: | eng |
| Abstract: | This paper explores the role of natural resources in economic growth. A neo-Austrian model that can represent either single, autarchic country, or a pair of trading countries, one of which can export natural resources and the other can export manufactured capital, is constructed. It is shown that under autarchy, the price of the natural resource has no effect on economic growth, while under conditions of trade, it has a significant influence. |
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