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Natural Resources and Sustainable Development

Author

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  • Yuli Radev

    (University of National and World Economy, Sofia, Bulgaria)

Abstract

The present paper analyzes the contradictions between the conditions for efficiency and sustainability in macroeconomic literature of growth. Through the models of the optimal growth capital-natural resources Dasgupta and Heal (1974), Pezzey and Withangen (1998), Valente (2005) contested the Solow’s formula for sustainable development (1974), proving that if the resources are exhaustible, the consumption falls in the long term. The model presented in the paper adds value to these analyses as in parallel to depreciation and population growth, it takes in to account also the impact of technological progress over the resources as well as the renewability of these resources. The main conclusion is that a constant consumption can be sustained only while the sum of the discount rate and the population growth exceeds the sum from the coefficient of impact of technical progress and the rate of renewability of the resources. The capital depreciation has not influence over the conditions of sustainable development of economy

Suggested Citation

  • Yuli Radev, 2014. "Natural Resources and Sustainable Development," Ikonomiceski i Sotsialni Alternativi, University of National and World Economy, Sofia, Bulgaria, issue 1, pages 30-37, January.
    • Handle: RePEc:nwe:iisabg:y:2014:i:1:p:30-37
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    Citations

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    Cited by:

    1. Tiainen, Heidi, 2016. "Contemplating governance for social sustainability in mining in Greenland," Resources Policy, Elsevier, vol. 49(C), pages 282-289.
    2. Varney, Josephine & Zarrouk, Sadiq J. & Bean, Nigel & Bendall, Betina, 2017. "Performance measures in geothermal power developements," Renewable Energy, Elsevier, vol. 101(C), pages 835-844.
    3. Mercer-Mapstone, Lucy & Rifkin, Will & Moffat, Kieren & Louis, Winnifred, 2017. "Conceptualising the role of dialogue in social licence to operate," Resources Policy, Elsevier, vol. 54(C), pages 137-146.
    4. Kamrul Huda Talukdar & Shahran Abu Sayeed, 2020. "Mobile Telecommunications and Social Development in Bangladesh," International Journal of Social and Administrative Sciences, Asian Economic and Social Society, vol. 5(1), pages 30-41, March.

    More about this item

    JEL classification:

    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • Q11 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Aggregate Supply and Demand Analysis; Prices
    • Q32 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Exhaustible Resources and Economic Development

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