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Renewable Natural Resources And Endogenous Growth Author info | Abstract | Publisher info | Download info | Related research | Statistics AZNAR-M RQUEZ, J.
RUIZ-TAMARIT, J.R.
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We study the sustainability of long-run growth in a two-sector economy where a renewable natural resource is exploited under private property rights. We obtain short- and long-run growth trajectories in closed form, examine transitional dynamics, and characterize convergence properties. We find conditions for sustainable long-run growth, which depend on the harvesting rate, and show that the speed of convergence decreases during transition. We identify a stronger version of Hartwick s rule and analyze parameter dependences for endogenous variables. Economic growth relies less on abundance or scarcity of natural resources than on the way they are managed.
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Article provided by Cambridge University Press in its journal Macroeconomic Dynamics .
Volume (Year): 9 (2005)
Issue (Month): 02 (April)
Pages: 170-197
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Handle: RePEc:cup:macdyn:v:9:y:2005:i:02:p:170-197_04Contact details of provider: Postal: The Edinburgh Building, Shaftesbury Road, Cambridge CB2 2RU UK Fax: +44 (0)1223 325150 Email:
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References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.: Joseph E. Stiglitz, 1980.
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Thorvaldur Gylfason & Gylfi Zoega, 2004.
"Natural Resources and Economic Growth: The Role of Investment ,"
DEGIT Conference Papers
c009_011, DEGIT, Dynamics, Economic Growth, and International Trade.
[Downloadable!] Gylfason, Thorvaldur & Zoega, Gylfi, 2001.
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[Downloadable!] (restricted) repec:cup:macdyn:v:3:y:1999:i:2:p:204-25 is not listed on IDEAS
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Gylfason, Thorvaldur, 2001.
"Natural resources, education, and economic development ,"
European Economic Review ,
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[Downloadable!] (restricted)
Other versions: J. AZNAR-MARQUEZ & J.R. Ruiz-Tamarit, 2002.
"Closed-Form Solution for a Two-Sector Endogenous Growth Model with two Controls ,"
Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES) Discussion Paper
2002030, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
[Downloadable!]
Gylfason, Thorvaldur, 2001.
"Nature, Power, and Growth ,"
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Other versions: Auty, Richard M., 2001.
"The political economy of resource-driven growth ,"
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Sachs, Jeffrey D. & Warner, Andrew M., 2001.
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[Downloadable!] (restricted)
José Ramón Ruiz-Tamarit, .
"Multiplicity, Overtaking and Convergence in the Lucas Two-Sector Growth Model ,"
Working Papers
2002-17, FEDEA.
[Downloadable!]
Full
references Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.)
J. AZNAR-MARQUEZ & J.R. Ruiz-Tamarit, 2002.
"Closed-Form Solution for a Two-Sector Endogenous Growth Model with two Controls ,"
Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES) Discussion Paper
2002030, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
[Downloadable!]
José Ramón Ruiz Tamarit & Manuel Sánchez Moreno, 2006.
"Optimal Regulation And Growth In A Natural-Resource-Based Economy ,"
Working Papers. Serie AD
2006-21, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
[Downloadable!]
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