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Optimal dynamic regulation of the environmental impact of mining across diverse land types

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dc.contributor.author Doole, Graeme J.
dc.contributor.author White, Ben
dc.date.accessioned 2012-07-24T04:55:29Z
dc.date.available 2012-07-24T04:55:29Z
dc.date.copyright 2012-04-20
dc.date.issued 2006
dc.identifier.citation Doole, G.J. & White, B. (2012). Optimal dynamic regulation of the environmental impact of mining across diverse land types. New Zealand Economic Papers, published online on 20 April 2012. en_NZ
dc.identifier.uri http://hdl.handle.net/10289/6560
dc.description.abstract Optimal dynamic regulation of mineral extraction and environmental rehabilitation across diverse land assets is studied using discrete-time, distributed optimal control. An extension of Hotelling's Rule is derived that indicates the need to manage both processes over space and time to maximise social welfare. Key empirical insights are drawn from a case study involving the Western Australian mineral sands industry. The incorporation of temporal and spatial dimensions allows for greater precision in the analysis of alternative management strategies. However, numerical analysis shows that optimal regulation may not require information-intensive tax instruments if abatement occurs in the year that land is damaged. Rather, a tax that is constant across time or space that provides a sufficient incentive for firms to rehabilitate degraded land can suffice. Bond instruments are shown unequivocally to provide too weak an incentive for timely rehabilitation by mining firms. en_NZ
dc.language.iso en
dc.publisher Routledge en_NZ
dc.relation.ispartof New Zealand Economic Papers
dc.relation.uri http://www.tandfonline.com/doi/full/10.1080/00779954.2012.672273 en_NZ
dc.subject non-renewable resources en_NZ
dc.subject minerals en_NZ
dc.subject environmental policy en_NZ
dc.subject Pigouvian taxes en_NZ
dc.subject differentiated instruments en_NZ
dc.title Optimal dynamic regulation of the environmental impact of mining across diverse land types en_NZ
dc.type Journal Article en_NZ
dc.identifier.doi 10.1080/00779954.2012.672273 en_NZ


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