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Learning by Doing in the Presence of an Open Access Renewable Resource: Is Growth Sustainable?

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  • McAudland, C.
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    Abstract

    This paper focuses on the impact of technological progress (modeled as learning by doing) on economic growth when one of the inputs in production is an open access renewable resource. Technological progress is found to indi- rectly induce resource depletion, such that sustainable growth will not occur in autarky under certain preferences, and is possible in trade only if the resource sector contracts over time or shuts down completely. Comparisons of steady state welfare in autarky and free trade reveal that for very high or low world prices of the resource-based good, it is possible for the economy to gain from trade. However if the price is intermediate, it will instead lose.

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    Bibliographic Info

    Paper provided by Research Seminar in International Economics, University of Michigan in its series Working Papers with number 426.

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    Length: 38 pages
    Date of creation: 1998
    Date of revision:
    Handle: RePEc:mie:wpaper:426

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    Postal: ANN ARBOR MICHIGAN 48109
    Web page: http://www.fordschool.umich.edu/rsie/
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    Related research

    Keywords: TECHNOLOGICAL CHANGE ; ECONOMIC GROWTH;

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