IDEAS home Printed from
   My bibliography  Save this paper

Growth, Innovation and Natural Resources


  • Paul J.J. Welfens

    () (Europäisches Institut für Internationale WIrtschaftsbeziehungen (EIIW))


Key aspects of economic growth and sustainable consumption are highlighted in the context of a modified neoclassical growth model. If we consider the topic of optimum growth in a broader context the notion of efficient specialization - in accordance with relative factor endowment - has to be distinguished from optimum specialization. For most resource rich countries long term economic growth is possible, namely if sufficient investment in research and development plus education is realized in the context of a dynamic open economy. As the exploitation of natural resources is likely to decline in the very long run in many countries - including in Russia - the level of the growth path should be expected to reduce in the steady state. Adequate long term emphasis on innovation dynamics is crucial for sustained growth where innovation should include strong emphasis on renewable energies and energy-efficient technologies. Here international cooperation among countries could be very useful and new joint international projects among countries from different continents indeed should be explored.

Suggested Citation

  • Paul J.J. Welfens, 2008. "Growth, Innovation and Natural Resources," EIIW Discussion paper disbei159, Universitätsbibliothek Wuppertal, University Library.
  • Handle: RePEc:bwu:eiiwdp:disbei159

    Download full text from publisher

    File URL:
    Download Restriction: no

    More about this item


    Growth; Innovation; Sustainability;

    JEL classification:

    • E13 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Neoclassical
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bwu:eiiwdp:disbei159. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Frank Hoffmann). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.