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Sustainable growth in a resource-based economy: the extraction-saving relationship Author info | Abstract | Publisher info | Download info | Related research | Statistics Bazhanov, Andrei
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The paper presents two new results for the Dasgupta-Heal-Solow-Stiglitz model with an essential nonrenewable resource: (1) the pattern of resource extraction can be more important for sustainable growth than the pattern of saving when the Hotelling Rule modifier is not small enough; (2) the qualitative behavior of the long-run per capita output can be examined along any smooth enough path of extraction for any variable saving rate using the "index of sustainable extraction" introduced in the paper.
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number
12350.
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Date of creation: 03 Dec 2008Date of revision:
Handle: RePEc:pra:mprapa:12350Contact details of provider: Postal: Schackstr. 4, D-80539 Munich, Germany Phone: +49-(0)89-2180-2219 Fax: +49-(0)89-2180-3900 Web page: http://mpra.ub.uni-muenchen.de More information through EDIRC
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Keywords: modified Hotelling Rule ; imperfect economy ; sustainable growth ; index of sustainable extraction ; Hubbert curve consumption ; Other versions of this item:
Find related papers by JEL classification: Q38 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Government Policy (includes OPEC Policy) Q32 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Exhaustible Resources and Economic Development O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence O13 - Economic Development, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
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references Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.)
Bazhanov, Andrei & Belyaev, Alexander, 2009.
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