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“Natural resource pricing”, allocative efficiency and protection

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Conclusion

NRP can be damaging to a domestic industry. In most instances, it will not warrant counteraction since it will be merely a relief from an existing imperfection in the market system. Only if the practice is predatory should it be neutralized by commercial policy imposed by the importing government. It is possible that some protection might temporarily be instituted for phase-out purposes but this seems of little importance in an industry in which new capacity requires a long lead-time and in which product specific human capital is internationally mobile.

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Authors
  1. H. Peter Gray
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Gray, H.P. “Natural resource pricing”, allocative efficiency and protection. Weltwirtschaftliches Archiv 122, 365–370 (1986). https://doi.org/10.1007/BF02705750

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  • DOI: https://doi.org/10.1007/BF02705750

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