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Article
Scarcity, Resource Price Uncertainty and Economic Growth
Land Economics
  • Roy Boyd, Ohio University - Main Campus
  • Tony Caporale, University of Dayton
Document Type
Article
Publication Date
8-1-1996
Abstract
Over the course of the past decade, significant steps have been taken to empirically link indicators of resource scarcity to changes in economic growth. This paper extends this previous literature in two ways. First, rather than concentrating exclusively on energy, we focus on the technological change embodied in the prices of an array of complementary natural resource inputs. Second, we investigate (using (G)ARCH methods) the importance of resource price uncertainty as well as resource price levels on aggregate economic growth. We find that output growth is significantly influenced by both resource price levels and resource price uncertainty. (JEL Q31)
Inclusive pages
326-335
ISBN/ISSN
0023-7639
Publisher
University of Wisconsin Press
Peer Reviewed
Yes
Citation Information
Roy Boyd and Tony Caporale. "Scarcity, Resource Price Uncertainty and Economic Growth" Land Economics Vol. 72 Iss. 3 (1996)
Available at: http://works.bepress.com/tony_caporale/20/