原创力文档discovery of natural resources a class of general equilibrium models：（发现自然资源类的一般均衡模型）.pdfVIP
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discovery of natural resources a class of general equilibrium models：（发现自然资源类的一般均衡模型）
Energy Economics 61 (2017) 174–178
Contents lists available at ScienceDirect
Energy Economics
journal homepage: /locate/eneco
Discovery of natural resources: A class of general equilibrium models
Paulo Henrique Vaz
Department of Economics, Universidade Federal de Pernambuco, Brazil
A R T I C L E I N F O A B S T R A C T
Article history: When is the discovery of natural resources a curse for a country’s industrialization and when is it a bless-
Received 27 October 2014 ing? A large literature on economic development has collected evidence on both directions. This paper
Received in revised form 7 September 2016 discusses a class of general equilibrium models that deals with natural resource discoveries and evaluates its
Accepted 5 November 2016 potential to accommodate both successful and unsuccessful resource-based industrialization experiences,
Available online 24 November 2016
under different model settings. Particularly, it analyzes the importance of disentangling price and quantity
effects. It illustrates that in closed model economies (or large open economies), with vertical integration
JEL classification:
between manufacturing and energy sectors, the long-run effect on the production of manufacturing goods
Q33
will depend mainly on the equilibrium price of the natural resour
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