The interaction between natural resources- and physical capital-intensive sectors in a behavioral model of economic growth
In this paper we examine the role played by environmental externalities in shaping the dynamics of a small open economy with two sectors (a farming sector and an industrial one), free inter-sectoral labor mobility and heterogeneous agents (workers/farmers and industrial entrepreneurs). We find that the stability properties of the equilibria and their features in terms of environmental preservation, welfare outcomes and sectoral allocation of labor are sensitive to the relative level of carrying capacity with respect to the rate of environmental pressure of the economic activities. We show that an endogenous process of industrialization associated to a reduction in farmers/workers’ welfare can emerge
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"Investment inflows and sustainable development in a natural resource-dependent economy,"
Department of Economics University of Siena
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"Distributive impact of structural change: does environmental degradation matter?,"
Working Papers - Economics
wp2008_07.rdf, Universita' degli Studi di Firenze, Dipartimento di Scienze per l'Economia e l'Impresa.
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