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Optimal growth and land preservation

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  • Santiago J. Rubio Jorge

    ()
    (Universitat de València)

  • Renan Ulrich Goetz

    (Dpt. Economia)

Abstract

A model of optimal economic growth with a constant population subject to a constraint on the availability of land is presented. It takes account of the dual character of land as a production factor and as a consumption good (environmental amenities) by determining the optimal intertemporal allocation of land between productive and recreational uses. An extension of the analysis for the case of a growing population with endogenous growth based on human capital accumulation shows that if the rate of discount is not very low then there exists a set of balanced growth paths compatible with a constant allocation of land. En este trabajo se presenta un modelo de crecimiento económico óptimo con una población constante sujeto a una restricción sobre la disponibilidad de tierra. En el modelo se tiene en cuenta el carácter dual de la tierra como factor productivo y como bien de consumo para usos recreacionales y se determina cual es la asignación intertemporal óptima de la tierra entre estos dos usos. En la segunda parte del trabajo, se presenta una extensión del análisis para el caso de una población creciente con crecimiento endógeno basado en la acumulación de capital humano y se demuestra que si la tasa de descuento no es muy pequeña existe un conjunto de sendas de crecimiento equilibrado compatibles con una asignación constante de la tierra.

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File URL: http://www.ivie.es/downloads/docs/wpasec/wpasec-1997-02.pdf
File Function: Fisrt version / Primera version, 1997
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Bibliographic Info

Paper provided by Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie) in its series Working Papers. Serie EC with number 1997-02.

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Length: 40 pages
Date of creation: Apr 1997
Date of revision:
Publication status: Published by Ivie
Handle: RePEc:ivi:wpasec:1997-02

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Keywords: Crecimiento óptimo; asignación intertemporal de la tierra; preservación medioambiental; crecimiento de la población; crecimiento endógeno; capital humano Optimal growth; intertemporal land allocation; environmental preservation; population growth; endogenous growth; human capital;

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References

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  1. Francisco José Goerlich Gisbert & Vicente Orts, 1995. "Margen Precio-Coste Marginal Y Economías De Escala En La Industria Española: 1964-1989," Working Papers. Serie EC 1995-01, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
  2. Caputo, Michael R., 1990. "How to do comparative dynamics on the back of an envelope in optimal control theory," Journal of Economic Dynamics and Control, Elsevier, vol. 14(3-4), pages 655-683, October.
  3. Santiago J. Rubio Jorge & Juan Patricio Castro Valdivia, 1996. "Long-run groundwater reserves under uncertainty," Working Papers. Serie EC 1996-07, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
  4. Arrow, Kenneth J & Fisher, Anthony C, 1974. "Environmental Preservation, Uncertainty, and Irreversibility," The Quarterly Journal of Economics, MIT Press, vol. 88(2), pages 312-19, May.
  5. Mercedes Gumbau Albert & Joaquín Maudos Villarroya, 1996. "Eficiencia productiva sectorial en las regiones españolas: una aproximación frontera," Working Papers. Serie EC 1996-10, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
  6. Krautkraemer, Jeffrey A, 1985. "Optimal Growth, Resource Amenities, and the Preservation of Natural Environments," Review of Economic Studies, Wiley Blackwell, vol. 52(1), pages 153-70, January.
  7. Harry R Clarke & William J Reed, 1989. "Land Development and Wilderness Conservation Policies Under Uncertainty: A Synthesis," Working Papers 1989.02, School of Economics, La Trobe University.
  8. Rubio, Santiago J. & Goetz, Renan-U., 1998. "Optimal growth and land preservation," Resource and Energy Economics, Elsevier, vol. 20(4), pages 345-372, December.
  9. Ezequiel Uriel Jiménez & María Luisa Moltó Carbonell & Santiago Murgui, 1995. "Determinación De Una Tipología De Hogares En El Marco De Una Matriz De Contabilidad Social," Working Papers. Serie EC 1995-07, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
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  13. Hartl, Richard, 1983. "Optimal maintenance and production rates for a machine : A nonlinear economic control problem," Journal of Economic Dynamics and Control, Elsevier, vol. 6(1), pages 281-306, September.
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Citations

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Cited by:
  1. Anke Leroux & John Creedy, 2005. "Optimal Land Conversion And Growth With Uncertain Biodiversity Costs," Department of Economics - Working Papers Series 957, The University of Melbourne.
  2. Rubio, Santiago J. & Goetz, Renan-U., 1998. "Optimal growth and land preservation," Resource and Energy Economics, Elsevier, vol. 20(4), pages 345-372, December.
  3. Eppink, Florian V. & van den Bergh, Jeroen C.J.M., 2007. "Ecological theories and indicators in economic models of biodiversity loss and conservation: A critical review," Ecological Economics, Elsevier, vol. 61(2-3), pages 284-293, March.

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