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Research of Economic Models of Innovations Aimed at Overcoming the Deficit of Natural Resources

Исследование экономических моделей инноваций, направленных на преодоление дефицита природных ресурсов

Mark Levin

Working Papers from Russian Presidential Academy of National Economy and Public Administration

Abstract: The growth of the modern economy to a large extent requires consumption Natural resources, many of which are non-reproducible. These natural resources, as a rule, are limited, at least in the short term, and therefore, with their growing consumption, there is an increasing deficit. The urgency of the work does not cause doubts - the deficit of natural resources greatly influences the development of the economy. The limitation of factors affecting economic growth is often included in macroeconomic models, for example, the Solow model, the Romer model, etc. However, numerous studies in this area generally do not include an analysis of which innovations with which properties and what type should be implemented to overcome certain limitations. Nevertheless, in the economic literature such questions were raised more than once (see, for example, Shilova NV, 2011), where numerous examples of this type of innovation were cited. In the work below, an attempt will be made to simulate a situation in which at least two options for investing in innovations are possible, and the firm chooses which scenario to follow. The model is quite simple, but it gives interesting practical results.

Keywords: scarcity of natural resources; innovations; development (search for similar items in EconPapers)
Pages: 44 pages
Date: 2018-02
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