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Stochastic environmental effects, demographic variation, and economic growth

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Author Info
Azomahou, Theophile () (UNU-MERIT)
Mishra, Tapas () (School of Business and Economics, University of Wales Swansea)

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Abstract

We consider a stochastic environment to study interactions among pollution growth, demographic changes, and economic growth. Drawing on the empirical findings of slow convergence patterns of pollution shocks (viz., with a long-memory), we build an analytical framework where stochastic environmental feedback effects on population changes are reflected upon aggregate economic growth. Long-memory in economic growth, in our model, is shown to arise due to the inherent stochasticity in environmental and demographic system. Empirical results for a set of developed and developing countries generally support our conjecture. Simulation experiment is carried out to lend additional support to this claim.

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Publisher Info
Paper provided by United Nations University, Maastricht Economic and social Research and training centre on Innovation and Technology in its series UNU-MERIT Working Paper Series with number 016.

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Date of creation: 2009
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Handle: RePEc:dgr:unumer:2009016

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Related research
Keywords: Environmental Quality; Long-memory; Demographic Dynamics; Economic Growth;

Find related papers by JEL classification:
C13 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: General - - - Estimation
J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends and Forecasts
O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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