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Economic Dynamics with Renewable Resources and Pollution

Author

Listed:
  • Dam, My
  • Ha-Huy, Thai
  • Le Van, Cuong
  • Nguyen, Thi Tuyet Mai

Abstract

This article considers a two-sector economy with externalities. In particular,the analysis involves an industrial sector whose production activities have negative effects on the regeneration of a natural resource in the other sector. Without the usual convexity or the super-modularity structure, we prove that the economy evolves to increase the \textit{net gain of stock}, and establish the conditions ensuring the convergence of the economy in the long run.

Suggested Citation

  • Dam, My & Ha-Huy, Thai & Le Van, Cuong & Nguyen, Thi Tuyet Mai, 2019. "Economic Dynamics with Renewable Resources and Pollution," MPRA Paper 96672, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:96672
    as

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    File URL: https://mpra.ub.uni-muenchen.de/96672/1/MPRA_paper_96672.pdf
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    References listed on IDEAS

    as
    1. Wirl, Franz, 2004. "Sustainable growth, renewable resources and pollution: Thresholds and cycles," Journal of Economic Dynamics and Control, Elsevier, vol. 28(6), pages 1149-1157, March.
    2. Amir, Rabah, 1996. "Sensitivity analysis of multisector optimal economic dynamics," Journal of Mathematical Economics, Elsevier, vol. 25(1), pages 123-141.
    3. Graciela Chichilnisky, 1996. "An axiomatic approach to sustainable development," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 13(2), pages 231-257, April.
    4. Rodriguez, Francisco & Sachs, Jeffrey D, 1999. "Why Do Resource-Abundant Economies Grow More Slowly?," Journal of Economic Growth, Springer, vol. 4(3), pages 277-303, September.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Ramsey model; two-sector model; renewable resources; pollution;

    JEL classification:

    • C0 - Mathematical and Quantitative Methods - - General
    • C02 - Mathematical and Quantitative Methods - - General - - - Mathematical Economics
    • Q2 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation

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