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Optimal growth and land preservation

  • Rubio, Santiago J.
  • Goetz, Renan-U.

A model of optimal economic growth with a constant population subject to a constraint on the availability of land is presented. It takes account of the dual character of land as a production factor and as a consumption good (environmental amenities) by determining the optimal intertemporal allocation of land between productive and recreational uses. An extension of the analysis for the case of a growing population with endogenous growth based on human capital accumulation shows that if the rate of discount is not very low then there exists a set of balanced growth paths compatible with a constant allocation of land. En este trabajo se presenta un modelo de crecimiento económico óptimo con una población constante sujeto a una restricción sobre la disponibilidad de tierra. En el modelo se tiene en cuenta el carácter dual de la tierra como factor productivo y como bien de consumo para usos recreacionales y se determina cual es la asignación intertemporal óptima de la tierra entre estos dos usos. En la segunda parte del trabajo, se presenta una extensión del análisis para el caso de una población creciente con crecimiento endógeno basado en la acumulación de capital humano y se demuestra que si la tasa de descuento no es muy pequeña existe un conjunto de sendas de crecimiento equilibrado compatibles con una asignación constante de la tierra.

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Article provided by Elsevier in its journal Resource and Energy Economics.

Volume (Year): 20 (1998)
Issue (Month): 4 (December)
Pages: 345-372

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Handle: RePEc:eee:resene:v:20:y:1998:i:4:p:345-372
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  10. Joaquín Maudos Villarroya & José Manuel Pastor Monsálvez, 1995. "Prestación de Servicios Bancarios en las Cajas de Ahorros Españolas: Cajeros Automáticos versus Oficinas," Working Papers. Serie EC 1995-14, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
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