Non-Conflicting Resource Pricing Policies in an Interdependent World
Geoffrey M. Heal
Columbia Business School - Finance and Economics; National Bureau of Economic Research (NBER)
Amir H. Sepahban
affiliation not provided to SSRN
OPEC Review, 1983
OUR CONCERN in this paper is to analyze the optimal long-run pricing policies of oil-exporting countries. These might be described briefly as the policies which best meet their objectives, subject to the various limitations imposed on them by the realities of world economic forces.
The objectives of the oil-exporting countries have been conveniently summarized in earlier discussions in OPEC Seminars (see Sepahban, 1982), under the following four headings:
1. The conservation of hydrocarbon resources.
2. Accelerated economic and social development of their domestic
economics, and in particular rapid capital formation.
3. Improved terms of trade with industrial countries.
4. Maintenance of reasonable rates of economic growth for the international
community, including industrial countries.
Number of Pages in PDF File: 27
Date posted: March 31, 2009