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Invariance in growth theory and sustainable development

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  • Martinet, Vincent
  • Rotillon, Gilles

Abstract

Cet article examine le concept de soutenabilité d'un point de vue différent de ce que l'on trouve habituellement dans la littérature. Si la soutenabilité est définie comme la nécessité de conserver quelque chose dans le long terme, le choix de ce qu'il faut conserver est controversé. L'approche néo-classique suppose que c'est le niveau de consommation, ou le niveau d'utilité, qui doit être maintenu. Dans cet article, les auteurs rejettent cette approche a priori du concept de soutenabilité et définissent l'ensemble des quantités qui sont conservées dans les modèles de croissance optimale neo-classiques. Ils cherchent donc à définir s'il existe des quantités invariantes le long des sentiers de croissance optimale d'économies avec ressources épuisables. Ils utilisent le théorème de Noether pour déterminer les lois de conservation des systèmes dynamiques étudiés. LEs auteurs déterminent alors sous quelles conditions il existe des invariants qui pourraient être interprétés comme des indicateurs de soutenabilité. Ils soulignent enfin les limites de la théorie de la croissance à aborder la problématique de soutenabilité.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Economic Dynamics and Control.

Volume (Year): 31 (2007)
Issue (Month): 8 (August)
Pages: 2827-2846

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Handle: RePEc:eee:dyncon:v:31:y:2007:i:8:p:2827-2846

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References

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  1. Asheim, G.B. & Buchholz, W. & Tungodden, B., 1999. "Justifying Sustainability," Papers 5/99, Norwegian School of Economics and Business Administration-.
  2. Chichilnisky, Graciela, 1995. "An axiomatic approach to sustainable development," MPRA Paper 8609, University Library of Munich, Germany.
  3. John Hartwick, 1976. "Intergenerational Equity and the Investing of Rents from Exhaustible Resources," Working Papers 220, Queen's University, Department of Economics.
  4. Chichilnisky, Graciela & Heal, Geoffrey & Beltratti, Andrea, 1995. "The Green Golden Rule," Economics Letters, Elsevier, vol. 49(2), pages 175-179, August.
  5. Dixit, Avinash & Hammond, Peter & Hoel, Michael, 1980. "On Hartwick's Rule for Regular Maximin Paths of Capital Accumulation and Resource Depletion," Review of Economic Studies, Wiley Blackwell, vol. 47(3), pages 551-56, April.
  6. Shane Frederick & George Loewenstein & Ted O'Donoghue, 2002. "Time Discounting and Time Preference: A Critical Review," Journal of Economic Literature, American Economic Association, vol. 40(2), pages 351-401, June.
  7. Stavins, Robert & Wagner, Alexander & Wagner, Gernot, 2002. "Interpreting Sustainability in Economic Terms: Dynamic Efficiency Plus Intergenerational Equity," Discussion Papers dp-02-29, Resources For the Future.
  8. Heal, G., 1998. "Valuing the Future: Economic Theory and Sustainability," Papers 98-10, Columbia - Graduate School of Business.
  9. Sato, Ryuzo & Kim, Youngduk, 2002. "Hartwick's rule and economic conservation laws," Journal of Economic Dynamics and Control, Elsevier, vol. 26(3), pages 437-449, March.
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Cited by:
  1. Arbex, Marcelo & Perobelli, Fernando S., 2010. "Solow meets Leontief: Economic growth and energy consumption," Energy Economics, Elsevier, vol. 32(1), pages 43-53, January.
  2. Cairns, Robert D., 2008. "Value and income," Ecological Economics, Elsevier, vol. 66(2-3), pages 417-424, June.

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