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Learning by Doing in the Presence of an Open Access Renewable Resource: Is Growth Sustainable?

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  • McAudland, C.

Abstract

This paper focuses on the impact of technological progress (modeled as learning by doing) on economic growth when one of the inputs in production is an open access renewable resource. Technological progress is found to indi- rectly induce resource depletion, such that sustainable growth will not occur in autarky under certain preferences, and is possible in trade only if the resource sector contracts over time or shuts down completely. Comparisons of steady state welfare in autarky and free trade reveal that for very high or low world prices of the resource-based good, it is possible for the economy to gain from trade. However if the price is intermediate, it will instead lose.

Suggested Citation

  • McAudland, C., 1998. "Learning by Doing in the Presence of an Open Access Renewable Resource: Is Growth Sustainable?," Working Papers 426, Research Seminar in International Economics, University of Michigan.
  • Handle: RePEc:mie:wpaper:426
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    More about this item

    Keywords

    TECHNOLOGICAL CHANGE ; ECONOMIC GROWTH;

    JEL classification:

    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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