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Sustainable growth in a resource-based economy: the extraction-saving relationship

Listed author(s):
  • Bazhanov, Andrei

The paper presents two new results for the Dasgupta-Heal-Solow-Stiglitz model with an essential nonrenewable resource: (1) the pattern of resource extraction can be more important for sustainable growth than the pattern of saving when the Hotelling Rule modifier is not small enough; (2) the qualitative behavior of the long-run per capita output can be examined along any smooth enough path of extraction for any variable saving rate using the "index of sustainable extraction" introduced in the paper.

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File URL: https://mpra.ub.uni-muenchen.de/12350/1/MPRA_paper_12350.pdf
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File URL: https://mpra.ub.uni-muenchen.de/23299/2/MPRA_paper_23299.pdf
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 12350.

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Date of creation: 03 Dec 2008
Handle: RePEc:pra:mprapa:12350
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