Advanced Search
MyIDEAS: Login

Can non-renewable resources alleviate the knife-edge character of endogenous growth?

Contents:

Author Info

  • Christian Groth
  • Poul Schou

Abstract

Standard endogenous growth models rely on the arbitrary assumption that the technology has exactly constant returns with respect to producible inputs. Can this knifeedge restriction be relaxed by including non-renewable resources as necessary inputs in production? In a one-sector optimal growth model, we find that the strain on the economy imposed by the need to extract successively smaller amounts of the nonrenewable resource can offset the potentially explosive effects of allowing for increasing returns to producible inputs. However, growth in per capita consumption will be unstable unless there is population growth. Thus, the knife-edge problem of (strictly) endogenous growth reappears as an instability problem. But a 'semi-endogenous' growth framework turns out to be an attractive alternative, relying on less restrictive parameter values, maintaining stability, and allowing a rich set of determinants of longrun growth. Copyright 2002, Oxford University Press.

Download Info

To our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.

Bibliographic Info

Article provided by Oxford University Press in its journal Oxford Economic Papers.

Volume (Year): 54 (2002)
Issue (Month): 3 (July)
Pages: 386-411

as in new window
Handle: RePEc:oup:oxecpp:v:54:y:2002:i:3:p:386-411

Contact details of provider:
Postal: Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK
Fax: 01865 267 985
Email:
Web page: http://oep.oupjournals.org/

Order Information:
Web: http://www.oup.co.uk/journals

Related research

Keywords:

Other versions of this item:

Find related papers by JEL classification:

References

No references listed on IDEAS
You can help add them by filling out this form.

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
This item has more than 25 citations. To prevent cluttering this page, these citations are listed on a separate page.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:oup:oxecpp:v:54:y:2002:i:3:p:386-411. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Oxford University Press) or (Christopher F. Baum).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.