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Capital Accumulation, Technological Progress and Environmental Change in a Three-Sector Growth Model

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  • Wei-Bin Zhang

    (Ritsumeikan Asia Pacific University, Japan)

Abstract

This paper builds a dynamic growth model with wealth accumulation, technological change, and environmental change on the basis of the neoclassical growth theory with an alternative approach to household behavior. The model synthesizes the economic growth mechanism in the neoclassical growth theory, Arrow’s learning-by-doing, and the environmental change in some traditional dynamic models of environmental economics. It describes a dynamic interdependence among wealth accumulation, technological change, and environmental change under perfect competition with environmental taxes. The author simulated the model to demonstrate existence of equilibrium points and motion of the dynamic system. In particular, the author demonstrated effects of changes in the government policy and preference upon both short-run and long-run economic behavior of the system.

Suggested Citation

  • Wei-Bin Zhang, 2012. "Capital Accumulation, Technological Progress and Environmental Change in a Three-Sector Growth Model," International Journal of Information Systems and Social Change (IJISSC), IGI Global, vol. 3(3), pages 1-18, July.
    • Handle: RePEc:igg:jissc0:v:3:y:2012:i:3:p:1-18
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    File URL: http://services.igi-global.com/resolvedoi/resolve.aspx?doi=10.4018/jissc.2012070101
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    Citations

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    Cited by:

    1. Wei-Bin Zhang, 2018. "Growth, Research, and Free Trade with Knowledge as Global Public Capital," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 3, pages 37-66.
    2. Wei-Bin Zhang, 2013. "Flexible Exchange Rate and Growth of a Small Open Monetary Economy with Imported Good and Externalities," Economic Research Guardian, Weissberg Publishing, vol. 3(1), pages 33-53, June.
    3. Zhang, Wei-Bin, 2013. "Education, Local Amenity and Spatial Agglomeration in a Small-Open Multi-Regional Economic Growth Model: Extending the Uzawa-Lucas Model to an Interregional Economy," Business and Economics Research Journal, Uludag University, Faculty of Economics and Administrative Sciences, vol. 4(1), pages 1-28, January.
    4. Wei-Bin Zhang, 2018. "Health, Environment, and Wealth," Izvestia Journal of the Union of Scientists - Varna. Economic Sciences Series, Union of Scientists - Varna, Economic Sciences Section, vol. 7(3), pages 109-123, December.
    5. Wei-Bin Zhang, 2017. "Economic Development and Environmental Change with Endogenous Birth and Mortality Rates," Asian Journal of Economic Modelling, Asian Economic and Social Society, vol. 5(1), pages 77-97, March.
    6. Wei-Bin Zhang, 2015. "Oscillations in a Growth Model with Capital, Technology and Environment with Exogenous Shocks," Academicus International Scientific Journal, Entrepreneurship Training Center Albania, issue 12, pages 73-93, July.

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