Valuation and Treatment of Depletable Resources in the National Accounts

August 1, 1991

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Format: Chicago

Jonathan Levin. Valuation and Treatment of Depletable Resources in the National Accounts, (USA: International Monetary Fund, 1991) accessed December 23, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

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.

Subject: Commodities, Environment, Income, National accounts, Natural resources, Non-renewable resources, Oil

Keywords: Cost, Economic value, Europe, Fixed capital, Global, Ground value, Income, National wealth, Natural resource, Natural resources, Net price method, Non-renewable resources, Oil, Opportunity cost, Resource base, Share of the extracted sales price, Value, WP

Publication Details

Pages:

23
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 1991/073
Stock No:

WPIEA0731991
ISBN:

9781451958560
ISSN:

1018-5941

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