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Sustainable Growth with Environmental Spillovers: A Ramsey-Koopmans Approach


  • Lee H. Endress

    () (Department of Economics, University of Hawaii at Manoa)

  • James A. Roumasset

    () (Department of Economics, University of Hawaii at Manoa)

  • Ting Zhou


In this paper, we apply the canonical approach of Ramsey, Koopmans, and Diamond to the problem of optimal and intertemporally-equitable growth with a non-renewable resource constraint and show that the solution is sustainable. The model is extended to cases involving environmental amenities and disamenities and renewable resources. The solutions equivalently solve the problem of maximizing net national product adjusted for depreciation in natural capital and environmental effects, which turns out to be both sustainable and constant even without technical change.

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  • Lee H. Endress & James A. Roumasset & Ting Zhou, 2002. "Sustainable Growth with Environmental Spillovers: A Ramsey-Koopmans Approach," Working Papers 200204, University of Hawaii at Manoa, Department of Economics.
  • Handle: RePEc:hai:wpaper:200204

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    References listed on IDEAS

    1. La Croix, Sumner J. & Fishback, Price V., 1989. "Firm-specific evidence on racial wage differentials and workforce segregation in Hawaii's sugar industry," Explorations in Economic History, Elsevier, vol. 26(4), pages 403-423, October.
    2. La Croix, Sumner J. & Roumasset, James, 1984. "An economic theory of political change in premissionary Hawaii," Explorations in Economic History, Elsevier, vol. 21(2), pages 151-168, April.
    3. La Croix, Sumner J. & Grandy, Christopher, 1997. "The Political Instability of Reciprocal Trade and the Overthrow of the Hawaiian Kingdom," The Journal of Economic History, Cambridge University Press, vol. 57(01), pages 161-189, March.
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