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Environmental Policy and Sustainable Economic Growth - an endogenous growth perspective

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  • Sjak Smulders

Abstract

This paper investigates the consequences of environmental policy for welfare, consumption and production growth in a situation in which environmental quality is initially too low. The natural environment is corporated in endogenous growth theory in a way that is consistent with some simple notions from the laws of thermodynamics. Environmental policy affects growth, both in the long run and in the short run, by affecting the productivity of investment and the savings behavior of consumers. The environment provides necessary inputs to economic production and accumulation processes. Hence improvements in environmental quality that follow environmental policy may boost the productivity of the environment and growth.

Suggested Citation

  • Sjak Smulders, "undated". "Environmental Policy and Sustainable Economic Growth - an endogenous growth perspective," EPRU Working Paper Series 95-07, Economic Policy Research Unit (EPRU), University of Copenhagen. Department of Economics.
  • Handle: RePEc:kud:epruwp:95-07
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    Cited by:

    1. Cameron Hepburn & Alex Bowen, 2013. "Prosperity with growth: economic growth, climate change and environmental limits," Chapters,in: Handbook on Energy and Climate Change, chapter 29, pages 617-638 Edward Elgar Publishing.
    2. Smulders, J.A., 1997. "Should Environmental Standards be Tighter if Technological Change is Endogenous?," Discussion Paper 1997-79, Tilburg University, Center for Economic Research.
    3. Jacobsen, Henrik Klinge, 2001. "Technological progress and long-term energy demand -- a survey of recent approaches and a Danish case," Energy Policy, Elsevier, vol. 29(2), pages 147-157, January.
    4. repec:gam:jsusta:v:9:y:2017:i:7:p:1092-:d:102344 is not listed on IDEAS
    5. José Manuel Madeira Belbute & Paulo Brito, 2009. "On the Relation Between the Endogenous Growth Rate of the Economy and the Dynamics of Renewable Resources," Economics Working Papers 07_2009, University of Évora, Department of Economics (Portugal).
    6. Dagmar Nelissen & Till Requate, 2007. "Pollution-reducing and resource-saving technological progress," International Journal of Agricultural Resources, Governance and Ecology, Inderscience Enterprises Ltd, vol. 6(1), pages 5-44.
    7. Andrea Bigano & Aleksander Śniegocki & Jacopo Zotti, 2016. "Policies for a More Dematerialized EU Economy. Theoretical Underpinnings, Political Context and Expected Feasibility," Sustainability, MDPI, Open Access Journal, vol. 8(8), pages 1-22, July.
    8. Sjak Smulders, 1995. "Entropy, environment, and endogenous economic growth," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 2(2), pages 319-340, August.
    9. Donna Ramirez Harrington & Madhu Khanna & David Zilberman, 2005. "Conservation capital and sustainable economic growth," Oxford Economic Papers, Oxford University Press, vol. 57(2), pages 336-359, April.
    10. Alex Bowen, 2014. "Green growth," Chapters,in: Handbook of Sustainable Development, chapter 15, pages 237-251 Edward Elgar Publishing.
    11. Michiel Keyzer & Max Merbis & Roelf Voortman, 2008. "The Biofuel Controversy," De Economist, Springer, vol. 156(4), pages 507-527, December.
    12. Walid Oueslati, 2013. "Short and Long-term Effects of Environmental Tax Reform," Working Papers 2013.09, Fondazione Eni Enrico Mattei.
    13. repec:bla:rdevec:v:21:y:2017:i:3:p:786-802 is not listed on IDEAS
    14. Krysiak, Frank C., 2006. "Entropy, limits to growth, and the prospects for weak sustainability," Ecological Economics, Elsevier, vol. 58(1), pages 182-191, June.
    15. Berk, Istemi & Yetkiner, Hakan, 2014. "Energy prices and economic growth in the long run: Theory and evidence," Renewable and Sustainable Energy Reviews, Elsevier, vol. 36(C), pages 228-235.

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