This paper develops a two-sector general equilibrium model of an economy with an open access renewable resource. We characterize the autarkic steady state, showing that autarky prices (and 'comparative advantage') are determined by the ratio of intrinsic resource growth to labor. Under free...

We examine the effect of trade on a small open economy with an open access renewable resource. Within a novel two-sector equilibrium model we first chracterize the autarkic steady state, and then show trade reduces steady state utility for a diversified resource exporting small country....