Valuation and Treatment of Depletable Resources in the National Accounts

Author/Editor:

Jonathan Levin

Publication Date:

August 1, 1991

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.

Series:

Working Paper No. 91/73

Subject:

English

Publication Date:

August 1, 1991

ISBN/ISSN:

9781451958560/1018-5941

Stock No:

WPIEA0731991

Format:

Paper

Pages:

23

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