Environmental policy and sustainable economic growth: An endogenous growth perspective
AbstractThis paper investigates the consequences of environmental policy for welfare, consumption and production growth in a situation in which environmental quality is initially too low. The natural environment is corporated in endogenous growth theory in a way that is consistent with some simple notions from the laws of thermodynamics. Environmental policy affects growth, both in the long run and in the short run, by affecting the productivity of investment and the savings behavior of consumers. The environment provides necessary inputs to economic production and accumulation processes. Hence improvements in environmental quality that follow environmental policy may boost the productivity of the environment and growth.
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Bibliographic InfoPaper provided by Tilburg University in its series Open Access publications from Tilburg University with number urn:nbn:nl:ui:12-153415.
Date of creation: 1995
Date of revision:
Publication status: Published in De Economist (1995) v.143, p.163-195
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Other versions of this item:
- Sjak Smulders, . "Environmental Policy and Sustainable Economic Growth - an endogenous growth perspective," EPRU Working Paper Series 95-07, Economic Policy Research Unit (EPRU), University of Copenhagen. Department of Economics.
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