Valuation and Treatment of Depletable Resources In the National Accounts
Stanford University - Department of Economics; Stanford Graduate School of Business; National Bureau of Economic Research (NBER)
IMF Working Paper No. 91/73
To assess the feasibility of the national accounts treating as assets depletable resources extracted for sale, the paper examines three issues: 1. whether treating natural resources as assets when they are used requires symmetrical accounting when they enter economic reserves; 2. at what stage between existence in nature and extraction entry to reserves could be counted; and 3. how the value of the in-ground natural resource component could be determined. It suggests treating natural resources entering reserves as "imports" from the environmental account added to the capital account, registering additions to reserves at a stage involved in economic activities, and valuing reserves by procedures related to market price.
Number of Pages in PDF File: 23
JEL Classification: C82, E2, L71, L72, Q3working papers series
Date posted: February 15, 2006
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