A Growth Rate for a Sustainable Economy
AbstractA sustainable growth rate â€“ i.e. a growth rate which allows economy to expand without compromising the equilibrium of the natural system â€“ is one of the most important and stimulating topics in growth literature. In this paper two findings will be presented. First of all, a brief discussion of both concepts â€“ growth and development â€“ is presented. A new sight for their relationship is suggested. The usual distinction between quantitative and qualitative variables is shown to be unsatisfactory. Growth and development must fit in a sustainability framework and therefore, progress should be based on steps of sustainable economic growth in order to have higher development levels. Secondly, a two-sector-closed-economy model is presented to demonstrate the existence of a positive sustainable growth rate for the GDP.
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Bibliographic InfoArticle provided by Spiru Haret University, Faculty of Financial Management and Accounting Craiova in its journal Journal of Applied Economic Sciences.
Volume (Year): 5 (2010)
Issue (Month): 2(12)/Summer2010 ()
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Web page: http://www2.spiruharet.ro/facultati/facultate.php?id=14
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economic growth; sustainable growth; development; sustainability;
Find related papers by JEL classification:
- O10 - Economic Development, Technological Change, and Growth - - Economic Development - - - General
- O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
- O49 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Other
- Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
- Q50 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - General
- Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
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