A Growth Rate for a Sustainable Economy

Alessio Emanuele Biondo

Journal of Applied Economic Sciences, 2010, vol. 5, issue 2(11)/Summer2010, 7-20

Abstract: A sustainable growth rate – i.e. a growth rate which allows economy to expand without compromising the equilibrium of the natural system – is one of the most important and stimulating topics in growth literature. In this paper two findings will be presented. First of all, a brief discussion of both concepts – growth and development – is presented. A new sight for their relationship is suggested. The usual distinction between quantitative and qualitative variables is shown to be unsatisfactory. Growth and development must fit in a sustainability framework and therefore, progress should be based on steps of sustainable economic growth in order to have higher development levels. Secondly, a two-sector-closed-economy model is presented to demonstrate the existence of a positive sustainable growth rate for the GDP.

Keywords: economic growth; sustainable growth; development; sustainability (search for similar items in EconPapers)
JEL-codes: O10 O40 O49 Q01 Q50 Q56 (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:ush:jaessh:v:5:y:2010:i:2(12)_spring2010:p:7

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