The wealth gifted to the large-scale copper mining industry in Chile: new estimates, 2005-2014

This article estimates the economic rents received by the 10 mines that comprise Chile’s large-scale private-sector copper-mining industry. The methodology used produces a conservative calculation and includes two corrections that have hitherto been ignored in the literature: the reimbursement of ex...

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Formato:	Texto
Lenguaje:	English
Publicado:	2018
Materias:	COBRE MINERIA SECTOR PRIVADO INGRESOS MEDICION RECURSOS NATURALES PRECIOS INGRESOS FISCALES COPPER MINING PRIVATE SECTOR INCOME MEASUREMENT NATURAL RESOURCES PRICES TAX REVENUES
Acceso en línea:	http://hdl.handle.net/11362/43953
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spelling	oai-11362-439532020-03-06T16:50:27Z The wealth gifted to the large-scale copper mining industry in Chile: new estimates, 2005-2014 COBRE MINERIA SECTOR PRIVADO INGRESOS MEDICION RECURSOS NATURALES PRECIOS INGRESOS FISCALES COPPER MINING PRIVATE SECTOR INCOME MEASUREMENT NATURAL RESOURCES PRICES TAX REVENUES This article estimates the economic rents received by the 10 mines that comprise Chile’s large-scale private-sector copper-mining industry. The methodology used produces a conservative calculation and includes two corrections that have hitherto been ignored in the literature: the reimbursement of exploration expenses and the compensation needed for volatility in the copper price. Estimates show that the wealth transferred to these firms between 2005 and 2014 was at least US$ 114 billion. These rents are neutral in terms of investment and production decisions; in other words, if the private mining companies had paid the Chilean Treasury the calculated amount, their total investment and output would have been unchanged, but the country at large could have benefited from the huge voluminous resources in question. Moreover, in the absence of any other distortion, the firms would still have earned returns equivalent to what they would have obtained under perfect competition. 2018-08-15T17:44:08Z 2018-08-15T17:44:08Z 2018-04 Texto Sección o Parte de un Documento http://hdl.handle.net/11362/43953 LC/PUB.2018/5-P 5 en CEPAL Review CEPAL Review 124 .pdf application/pdf 2005 CHILE CHILE 2014
institution	Cepal
collection	Cepal
language	English
topic	COBRE MINERIA SECTOR PRIVADO INGRESOS MEDICION RECURSOS NATURALES PRECIOS INGRESOS FISCALES COPPER MINING PRIVATE SECTOR INCOME MEASUREMENT NATURAL RESOURCES PRICES TAX REVENUES
spellingShingle	COBRE MINERIA SECTOR PRIVADO INGRESOS MEDICION RECURSOS NATURALES PRECIOS INGRESOS FISCALES COPPER MINING PRIVATE SECTOR INCOME MEASUREMENT NATURAL RESOURCES PRICES TAX REVENUES The wealth gifted to the large-scale copper mining industry in Chile: new estimates, 2005-2014
description	This article estimates the economic rents received by the 10 mines that comprise Chile’s large-scale private-sector copper-mining industry. The methodology used produces a conservative calculation and includes two corrections that have hitherto been ignored in the literature: the reimbursement of exploration expenses and the compensation needed for volatility in the copper price. Estimates show that the wealth transferred to these firms between 2005 and 2014 was at least US$ 114 billion. These rents are neutral in terms of investment and production decisions; in other words, if the private mining companies had paid the Chilean Treasury the calculated amount, their total investment and output would have been unchanged, but the country at large could have benefited from the huge voluminous resources in question. Moreover, in the absence of any other distortion, the firms would still have earned returns equivalent to what they would have obtained under perfect competition.
format	Texto
title	The wealth gifted to the large-scale copper mining industry in Chile: new estimates, 2005-2014
title_short	The wealth gifted to the large-scale copper mining industry in Chile: new estimates, 2005-2014
title_full	The wealth gifted to the large-scale copper mining industry in Chile: new estimates, 2005-2014
title_fullStr	The wealth gifted to the large-scale copper mining industry in Chile: new estimates, 2005-2014
title_full_unstemmed	The wealth gifted to the large-scale copper mining industry in Chile: new estimates, 2005-2014
title_sort	wealth gifted to the large-scale copper mining industry in chile: new estimates, 2005-2014
publishDate	2018
url	http://hdl.handle.net/11362/43953
_version_	1718437420780748800

The wealth gifted to the large-scale copper mining industry in Chile: new estimates, 2005-2014

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