Arbeitspapier
Strictly Endogenous Growth with Non-renewable Resources Implies an Unbounded Growth Rate
Conventional endogenous growth theory relies on the assumption of constant returns to broad capital. As Solow pointed out, the strength of this assumption is revealed by recognizing that even the slightest touch of increasing returns creates explosive growth: infinite output in finite time! But Solows observation ignored natural resources. What happens if non-renewable resources enter the growth engine? In this case (strictly) endogenous growth requires the technology to be such that there is no upper bound on the sustainable per capita growth rate.
- Language
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Englisch
- Bibliographic citation
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Series: EPRU Working Paper Series ; No. 2003-20
- Classification
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Wirtschaft
- Subject
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endogenous growth
semi-endogenous growth
non-renewable resources
knife-edge
Neue Wachstumstheorie
Erschöpfbare Ressourcen
Theorie
- Event
-
Geistige Schöpfung
- (who)
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Groth, Christian
- Event
-
Veröffentlichung
- (who)
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University of Copenhagen, Economic Policy Research Unit (EPRU)
- (where)
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Copenhagen
- (when)
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2003
- Handle
- Last update
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10.03.2025, 11:42 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Groth, Christian
- University of Copenhagen, Economic Policy Research Unit (EPRU)
Time of origin
- 2003
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