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Optimal growth when environmental quality is a research asset

Author

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  • Francesco Ricci

    (UMR ART-Dev - Acteurs, Ressources et Territoires dans le Développement - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - UPVM - Université Paul-Valéry - Montpellier 3 - UPVD - Université de Perpignan Via Domitia - UM - Université de Montpellier - CNRS - Centre National de la Recherche Scientifique)

Abstract

We advance an original assumption whereby a good state of the environment positively affects labor productivity in R&D such that deteriorating environmental quality negatively impacts R&D. We study the implications of this assumption for the optimal solution in an R&D-based model of growth, where the use of a non-renewable resource generates pollution. We show that in such a case, it is socially optimal to postpone extraction, as opposed to the situation in which the environment has no effect on productivity in R&D. Furthermore, insofar as environmental quality declines and subsequently recovers, we find that it is optimal to re-allocate employment to R&D in line with productivity changes. If environmental quality recovers only partially from pollution, R&D effort optimally begins above its long-run level, then progressively declines to a minimum and eventually increases to its steady-state level.
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Suggested Citation

  • Francesco Ricci, 2009. "Optimal growth when environmental quality is a research asset," Post-Print hal-03072551, HAL.
    • Handle: RePEc:hal:journl:hal-03072551
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    Cited by:

    1. is not listed on IDEAS
    2. Maciej Malaczewski, 2018. "Natural Resources As An Energy Source In A Simple Economic Growth Model," Bulletin of Economic Research, Wiley Blackwell, vol. 70(4), pages 362-380, October.
    3. Peter K. Kruse-Andersen, 2016. "Directed Technical Change and Economic Growth Effects of Environmental Policy," Discussion Papers 16-06, University of Copenhagen. Department of Economics.
    4. Kruse-Andersen, Peter K., 2025. "Directed technical change and economic growth effects of environmental policy," Energy Economics, Elsevier, vol. 147(C).
    5. Silvia Micheli & Carlo Andrea Bollino, 2011. "Sustainable growth with renewable and non-renewable energy sources," EcoMod2011 3213, EcoMod.

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