Sustainability Traps: Patience and Innovation

Evangelos V. Dioikitopoulos () and Christos Karydas ()
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Evangelos V. Dioikitopoulos: Athens University of Economics and Business
Christos Karydas: ETH Zurich

Environmental & Resource Economics, 2024, vol. 87, issue 6, No 5, 1425-1444

Abstract: Abstract This paper argues that the joint relation between long-term orientation, environmental quality and innovation plays a key role in explaining the economic and the environmental dimension of sustainability. In our model multiple equilibria of economic development and environmental quality can arise due to a trade-off between the demand for innovation that promotes sustainability, and the ephemeral pleasure from polluting manufacturing that impedes it. Additional to traditional policies such as aid and technology transfers, policies that target behavioral changes through environmental protection may provide a double-dividend of economic and environmental sustainability through an environment-patience-innovation channel.

Keywords: Endogenous growth; Innovation; Time preference; Environment-poverty traps (search for similar items in EconPapers)
JEL-codes: D90 E21 O13 O44 Q55 Q56 (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/s10640-024-00851-4

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