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Growth and convergence in a model with renewable and nonrenewable resources

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  • Manh Hung Nguyen

    ()
    (Toulouse School of Economics, LERNA-INRA)

  • Phu Nguyen Van

    ()
    (THEMA-CNRS, Cergy-Pontoise University)

Abstract

This paper analyzes the transitional dynamics in a model of economic growth with endogenous technological change and two alternative sources of energy: renewable and non-renewable resources. The conditions for the existence and saddle point property of the steady state are given. Finally, we present the estimation results on the data consisting of R&D energy, non-renewable energy consumption and renewable energy consumption.

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Bibliographic Info

Paper provided by Development and Policies Research Center (DEPOCEN), Vietnam in its series Working Papers with number 21.

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Length: 30 pages
Date of creation: Jul 2008
Date of revision:
Handle: RePEc:dpc:wpaper:2108

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Keywords: Optimal growth; existence of equilibrium; transitional dynamics; energy; renewable resources; nonrenewable resources;

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  1. Charles I. Jones, 2004. "Growth and Ideas," NBER Working Papers 10767, National Bureau of Economic Research, Inc.
  2. Di Maria, Corrado & Valente, Simone, 2006. "The Direction of Technical Change in Capital-Resource Economies," MPRA Paper 1040, University Library of Munich, Germany.
  3. Smulders, J.A., 2005. "Endogenous technological change, natural resources and growth," Open Access publications from Tilburg University urn:nbn:nl:ui:12-146711, Tilburg University.
  4. Hippolyte d'Albis & Pascal Gourdel & Cuong Le Van, 2004. "Existence of solutions in continuous-time optimal growth models," Cahiers de la Maison des Sciences Economiques b04063, Université Panthéon-Sorbonne (Paris 1).
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  7. Bretschger, L. & Smulders, J.A., 2003. "Sustainability and Substitution of Exhaustible Natural Resources: How Resource Prices Affect Long-Term R&D Investments," Discussion Paper 2003-71, Tilburg University, Center for Economic Research.
  8. N. Gregory Mankiw & David Romer & David N. Weil, 1990. "A Contribution to the Empirics of Economic Growth," NBER Working Papers 3541, National Bureau of Economic Research, Inc.
  9. Edward Barbier, 1999. "Endogenous Growth and Natural Resource Scarcity," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 14(1), pages 51-74, July.
  10. Islam, Nazrul, 1995. "Growth Empirics: A Panel Data Approach," The Quarterly Journal of Economics, MIT Press, vol. 110(4), pages 1127-70, November.
  11. Grimaud, André & Rougé, Luc, 2007. "Environment, Directed Technical Change and Economic Policy," IDEI Working Papers 384, Institut d'Économie Industrielle (IDEI), Toulouse.
  12. Sjak Smulders, 1995. "Entropy, environment, and endogenous economic growth," International Tax and Public Finance, Springer, vol. 2(2), pages 319-340, August.
  13. William Brock & M. Taylor, 2010. "The Green Solow model," Journal of Economic Growth, Springer, vol. 15(2), pages 127-153, June.
  14. Grimaud, Andre & Rouge, Luc, 2003. "Non-renewable resources and growth with vertical innovations: optimum, equilibrium and economic policies," Journal of Environmental Economics and Management, Elsevier, vol. 45(2, Supple), pages 433-453, March.
  15. Kolstad, Charles D. & Krautkraemer, Jeffrey A., 1993. "Natural resource use and the environment," Handbook of Natural Resource and Energy Economics, in: A. V. Kneese† & J. L. Sweeney (ed.), Handbook of Natural Resource and Energy Economics, edition 1, volume 3, chapter 26, pages 1219-1265 Elsevier.
  16. Groth, Christian & Schou, Poul, 2007. "Growth and non-renewable resources: The different roles of capital and resource taxes," Journal of Environmental Economics and Management, Elsevier, vol. 53(1), pages 80-98, January.
  17. Francisco Alvarez & Gustavo A. Marrero & Luis A. Puch, . "Air pollution and the macroeconomy across European countries," Working Papers 2005-10, FEDEA.
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Cited by:
  1. Bozo Draskovic & Jelena Minovic, 2012. "Determination and Compensation of External Costs in Serbia as Parameter of Sustainable Management," Book Chapters, Institute of Economic Sciences.

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