Economic Growth and Resource Amenity

Yuli Radev

Ikonomiceski i Sotsialni Alternativi, 2014, issue 2, 18-32

Abstract: The present paper discuses conditions, under which the optimal decision for development of natural resources includes permanently preserve of natural environment. These conditions are much more restrictive then the conditions in other models of economic growth and sustained development. There is no way the increasing consumption and decreasing prices to guarantee a permanent protection of natural environment. However, the initial capital endowment appears an important determinant of optimal level of permanent preservation of natural environment. Taking in to account the value of amenity resources leads to higher initial price of resources and lower rate of growth of this price.

Keywords: economic; growth (search for similar items in EconPapers)
JEL-codes: E21 Q11 Q32 Q51 (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:nwe:iisabg:y:2014:i:2:p:18-32

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