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Population Growth, Technical Progress, Intergenerational Equity and the Investment of Resource Rents

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  • John Hartwick

Abstract

We establish that if rents from exhaustible resources are invested in reproducible capital and if the population growth rates equal the rate of capital augmenting technical change, then for general neoclassical production functions, per capita consumption remains constant. We establish our new result in one and two sector models. Stability and the role of the elasticity of substitution are investigated in detail in the one sector model.

Suggested Citation

  • John Hartwick, 1977. "Population Growth, Technical Progress, Intergenerational Equity and the Investment of Resource Rents," Working Paper 280, Economics Department, Queen's University.
    • Handle: RePEc:qed:wpaper:280
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    Cited by:

    1. Elkhan Richard Sadik-Zada & Wilhelm Loewenstein & Yadulla Hasanli, 2021. "Production linkages and dynamic fiscal employment effects of the extractive industries: input-output and nonlinear ARDL analyses of Azerbaijani economy," Mineral Economics, Springer;Raw Materials Group (RMG);Luleå University of Technology, vol. 34(1), pages 3-18, April.
    2. Niftiyev, Ibrahim, 2020. "The De-industrialization Process In Azerbaijan: Dutch Disease Syndrome Revisited," EconStor Conference Papers 227485, ZBW - Leibniz Information Centre for Economics.

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