Sustainable growth in a resource-based economy: the extraction-saving relationship

Andrei Bazhanov

MPRA Paper from University Library of Munich, Germany

Abstract: The paper presents two new results for the Dasgupta-Heal-Solow-Stiglitz model with an essential nonrenewable resource: (1) the pattern of resource extraction can be more important for sustainable growth than the pattern of saving when the Hotelling Rule modifier is not small enough; (2) the qualitative behavior of the long-run per capita output can be examined along any smooth enough path of extraction for any variable saving rate using the "index of sustainable extraction" introduced in the paper.

Keywords: modified Hotelling Rule; imperfect economy; sustainable growth; index of sustainable extraction; Hubbert curve consumption (search for similar items in EconPapers)
JEL-codes: O13 O47 Q32 Q38 (search for similar items in EconPapers)
Date: 2008-12-03
New Economics Papers: this item is included in nep-env
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Citations: View citations in EconPapers (13)

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https://mpra.ub.uni-muenchen.de/23299/2/MPRA_paper_23299.pdf revised version (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:12350

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