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Stochastic environmental effects, demographic variation, and economic growth

Theophile Azomahou () and Tapas Mishra ()
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Theophile Azomahou: UNU-MERIT

No 2009-016, MERIT Working Papers from United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT)

Abstract: We consider a stochastic environment to study interactions among pollution growth, demographic changes, and economic growth. Drawing on the empirical findings of slow convergence patterns of pollution shocks (viz., with a long-memory), we build an analytical framework where stochastic environmental feedback effects on population changes are reflected upon aggregate economic growth. Long-memory in economic growth, in our model, is shown to arise due to the inherent stochasticity in environmental and demographic system. Empirical results for a set of developed and developing countries generally support our conjecture. Simulation experiment is carried out to lend additional support to this claim.

Keywords: Environmental Quality; Long-memory; Demographic Dynamics; Economic Growth (search for similar items in EconPapers)
JEL-codes: C13 J11 O47 (search for similar items in EconPapers)
Date: 2009
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