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Sustainable development in an economy-ecology integrated model

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  • Hofkes, Marjan W.

    (Vrije Universiteit Amsterdam, Faculteit der Economische Wetenschappen en Econometrie (Free University Amsterdam, Faculty of Economics Sciences, Business Administration and Economitrics)

Abstract

In this paper an endogenous growth model is analyzed which takes account of environmental deterioration and abatement. The environment plays a role both in production and welfare. It is common practice to solve growth models by looking at a balanced growth solution, which is often associated with sustainable development. We derive the conditions under which sustainable development is feasible. Furthermore, the conditions for optimal balanced growth are derived. Finally, some comparative statics of the balanced growth solutions are discussed and a numerical example is given to illustrate the model and to provide further insight.

Suggested Citation

  • Hofkes, Marjan W., 1994. "Sustainable development in an economy-ecology integrated model," Serie Research Memoranda 0048, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
    • Handle: RePEc:vua:wpaper:1994-48
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    References listed on IDEAS

    as
    1. Casey B. Mulligan & Xavier Sala-i-Martin, 1993. "Transitional Dynamics in Two-Sector Models of Endogenous Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 108(3), pages 739-773.
    2. Bovenberg, A.L. & Smulders, J.A., 1993. "Environmental quality and pollution-saving technological change in a two-sector endogenous growth model," Discussion Paper 1993-21, Tilburg University, Center for Economic Research.
    3. King, Robert G. & Plosser, Charles I. & Rebelo, Sergio T., 1988. "Production, growth and business cycles : I. The basic neoclassical model," Journal of Monetary Economics, Elsevier, vol. 21(2-3), pages 195-232.
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