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Renewable Natural Resources And Endogenous Growth

Author Info

  • AZNAR-M RQUEZ, J.
  • RUIZ-TAMARIT, J.R.

Abstract

We study a two-sector endogenous growth model where a single consumption good is obtained using a renewable resource in combination with physical capital. Both inputs are essential for production and technical substitutes. In this context we analyze the issues of sustainability, long-run and short-run growth as well as convergence, associated with the competitive equilibrium solution trajectories. We show that efficiency, long-run growth and sustainability are both compatible in a natural resource based production economy.

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Article provided by Cambridge University Press in its journal Macroeconomic Dynamics.

Volume (Year): 9 (2005)
Issue (Month): 02 (April)
Pages: 170-197

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Handle: RePEc:cup:macdyn:v:9:y:2005:i:02:p:170-197_04
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Find related papers by JEL classification:
  • C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium
  • D90 - Microeconomics - - Intertemporal Choice - - - General
  • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
  • Q20 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - General

References listed on IDEAS
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  1. Gylfason, Thorvaldur, 2001. "Nature, Power, and Growth," Scottish Journal of Political Economy, Scottish Economic Society, vol. 48(5), pages 558-88, November.
  2. Sachs, J-D & Warner, A-M, 1995. "Natural Resource Abundance and Economic Growth," Papers 517a, Harvard - Institute for International Development.
  3. Benhabib Jess & Perli Roberto, 1994. "Uniqueness and Indeterminacy: On the Dynamics of Endogenous Growth," Journal of Economic Theory, Elsevier, vol. 63(1), pages 113-142, June.
  4. Auty, Richard M., 2001. "The political economy of resource-driven growth," European Economic Review, Elsevier, vol. 45(4-6), pages 839-846, May.
  5. Gylfason, Thorvaldur & Herbertsson, Tryggvi Thor & Zoega, Gylfi, 1997. "A Mixed Blessing: Natural Resources and Economic Growth," CEPR Discussion Papers 1668, C.E.P.R. Discussion Papers.
  6. repec:cup:macdyn:v:3:y:1999:i:2:p:204-25 is not listed on IDEAS
  7. Rodriguez, Francisco & Sachs, Jeffrey D, 1999. "Why Do Resource-Abundant Economies Grow More Slowly?," Journal of Economic Growth, Springer, vol. 4(3), pages 277-303, September.
  8. J. AZNAR-MARQUEZ & J.R. Ruiz-Tamarit, 2002. "Closed-Form Solution for a Two-Sector Endogenous Growth Model with two Controls," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 2002030, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
  9. Gylfason, Thorvaldur & Zoega, Gylfi, 2001. "Natural Resources and Economic Growth: The Role of Investment," CEPR Discussion Papers 2743, C.E.P.R. Discussion Papers.
  10. Gylfason, Thorvaldur, 2000. "Natural Resources, Education, and Economic Development," CEPR Discussion Papers 2594, C.E.P.R. Discussion Papers.
  11. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
  12. Sachs, Jeffrey D. & Warner, Andrew M., 2001. "The curse of natural resources," European Economic Review, Elsevier, vol. 45(4-6), pages 827-838, May.
  13. Gylfason, Thorvaldur & Herbertsson, Tryggvi Thor & Zoega, Gylfi, 1999. "A Mixed Blessing," Macroeconomic Dynamics, Cambridge University Press, vol. 3(02), pages 204-225, June.
  14. José Ramón Ruiz-Tamarit, . "Multiplicity, Overtaking and Convergence in the Lucas Two-Sector Growth Model," Working Papers 2002-17, FEDEA.
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Cited by:

  1. Lucas Bretschger & Simone Valente, 2016. "Productivity Gaps and Tax Policies Under Asymmetric Trade," CER-ETH Economics working paper series 16/239, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
  2. José Ramón Ruiz Tamarit & Manuel Sánchez Moreno, 2006. "Optimal Regulation And Growth In A Natural-Resource-Based Economy," Working Papers. Serie AD 2006-21, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
  3. J. AZNAR-MARQUEZ & J.R. Ruiz-Tamarit, 2002. "Closed-Form Solution for a Two-Sector Endogenous Growth Model with two Controls," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 2002030, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
  4. Voosholz, Frauke, 2014. "A survey on modeling economic growth. With special interest on natural resource use," CAWM Discussion Papers 69, Center of Applied Economic Research Münster (CAWM), University of Münster.
  5. de Freitas, Maurício Assuero Lima & Stamford da Silva, Alexandre, 2013. "The influence of the healthcare system on optimal economic growth," Economic Modelling, Elsevier, vol. 35(C), pages 734-742.
  6. Raul Barreto, 2013. "Fossil Fuels, Alternative Energy and Economic Growth," School of Economics Working Papers 2014-03, University of Adelaide, School of Economics.

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