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From time zero to infinity: transitional and long-run dynamics in capital?resource economies

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Author Info
BRETSCHGER, LUCAS
PITTEL, KAREN

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Abstract

It is now generally agreed that the prediction of long-run development has to include natural resource use. To focus on the long run is, however, not equivalent to the use of balanced growth assumptions. It should be kept in mind that reaching a long-run equilibrium might take considerable time. Transition phases often exhibit characteristics which differ from the long-run state of the economy, but are important for its nature.

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Publisher Info
Article provided by Cambridge University Press in its journal Environment and Development Economics.

Volume (Year): 13 (2008)
Issue (Month): 06 (December)
Pages: 673-689
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Handle: RePEc:cup:endeec:v:13:y:2008:i:06:p:673-689_00

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