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Sustainable Economic Growth in an Economy With Exhaustible Resources and a Declining Population Under the Balance‐of‐Payments Constraint

Author

Listed:
  • Hiroaki Sasaki
  • Noriki Fukatani
  • Daisuke Imai
  • Yusuke Kamanaka

Abstract

This study builds a growth model and investigates the effects of resource depletion and population increases or decreases on the growth rate of per‐capita consumption in an open economy that trades with the rest of the world. We examine the two cases in which the input ratio of exhaustible resources is fixed or is determined endogenously. In both cases, depending on the conditions, the long‐run growth rate of per‐capita consumption can be positive, irrespective of whether the population growth rate is positive or negative.

Suggested Citation

  • Hiroaki Sasaki & Noriki Fukatani & Daisuke Imai & Yusuke Kamanaka, 2025. "Sustainable Economic Growth in an Economy With Exhaustible Resources and a Declining Population Under the Balance‐of‐Payments Constraint," Bulletin of Economic Research, Wiley Blackwell, vol. 77(3), pages 328-345, July.
    • Handle: RePEc:bla:buecrs:v:77:y:2025:i:3:p:328-345
    DOI: 10.1111/boer.12488
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    Cited by:

    1. is not listed on IDEAS
    2. Ziesemer, Thomas H.W., 2024. "Linking the BOPC growth model with foreign debt dynamics to goods and labour markets: A BOP-IXSM-Okun model," Research in Economics, Elsevier, vol. 78(4).
    3. Ziesemer, Thomas, 2022. "Linking the BOPC growth model with foreign debt dynamics to the goods and labour markets," MERIT Working Papers 2022-029, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).

    More about this item

    JEL classification:

    • J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends, Macroeconomic Effects, and Forecasts
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
    • Q32 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Exhaustible Resources and Economic Development

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