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Sustainable economic development and the environment: Theory and evidence

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Author Info
Luisito Bertinelli () (CREA, Université du Luxembourg)
Eric Strobl () (Ecole Polytechnique Paris)
Benteng Zou () (Institute of Mathematical Economics, Bielefeld University)

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Abstract

The relationship between growth and pollution is studied through a vintage capital model, where new technology is more environmentally friendly. We find that once the optimal scrapping age of technologies is reached, an economy may achieve two possible cases of sustainable development, one in which pollution falls and another in which it stabilizes, or a catastrophic outcome, where environmental quality reaches its lower bound. The outcome will depend on countries' investment path and their propensity to innovate in environmentally clean technologies, both of which are likely to differ across economies. Empirical results using long time series for a number of developed and developing countries indeed confirm heterogenous experiences in the pollution-output relationship.

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File URL: http://www.imw.uni-bielefeld.de/papers/files/imw-wp-369.pdf
File Format: application/pdf
File Function: First version, 2005
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Publisher Info
Paper provided by Bielefeld University, Institute of Mathematical Economics in its series Working Papers with number 369.

Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Length: 33 pages
Date of creation: Jul 2005
Date of revision:
Handle: RePEc:bie:wpaper:369

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Related research
Keywords: environmental quality; sustainable economic development; vintage capital model; EKC;

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Find related papers by JEL classification:
O13 - Economic Development, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
Q55 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Technological Innovation

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