RENEWABLE NATURAL RESOURCES AND ENDOGENOUS GROWTH
نویسندگان
چکیده
منابع مشابه
Economics of Renewable Natural Resources
Renewable natural resources include those resources useful to human economies that exhibit growth, maintenance, and recovery from exploitation over an economic planning horizon. The economics of such resources has traditionally considered stocks of fish, forests, or freshwater, much like a banker would tally interest on cash deposits. From an economic point of view, the management of biomass, s...
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Conventional endogenous growth theory relies on the assumption of constant returns to ”broad capital”. As Solow pointed out, the strength of this assumption is revealed by recognizing that even the slightest touch of increasing returns creates explosive growth: infinite output in finite time! But Solow’s observation ignored natural resources. What happens if non-renewable resources enter the ”g...
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This paper proposes a dynamic economic model with physical capital and renewable resources. Different from most of the neoclassical growth models with renewable resources which are based on microeconomic foundation and neglect physical capital accumulation, this study proposes a growth model with dynamics of renewable resources and physical capital accumulation. The model is a synthesis of the ...
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The conventional view within the endogenous growth literature is that interest income taxes impede economic growth and investment subsidies promote economic growth. The present paper lays out a simple framework to see whether this is still true when non-renewable resources enter the ”growth engine” in an essential way. It is not! The framework allows a rich set of determinants of longrun growth...
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We study a growth model for a single resource-based economy, as an infinite-horizon optimal control problem. The resource is assumed to be governed by the standard model of logistic growth, and is related to the output of the economy through a Cobb-Douglass type production function with an exogenously driven knowledge stock. The problem involves unbounded controls and the non-concave Hamiltonia...
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ژورنال
عنوان ژورنال: Macroeconomic Dynamics
سال: 2005
ISSN: 1365-1005,1469-8056
DOI: 10.1017/s1365100505040149