Arbeitspapier
The sustainability paradigm: A macroeconomic perspective
The paper presents a macroeconomic approach to sustainable growth. After clarifying the concept of sustainability, the interdependence between natural resources and accumulated capital stocks such as physical, human, and knowledge capital is discussed. The conditions for the substitution process leading to sustainable development are demonstrated in a one-sector approach and two versions of a multi-sector endogenous growth model. It turns out that prices of natural inputs have their major impact on growth by changing an economy's sectoral structure. The prediction of a successful substitution of knowledge for natural resources emerges to be realistic, provided that the sectoral adjustment costs in the economy are not too high.
- Sprache
-
Englisch
- Erschienen in
-
Series: Nota di Lavoro ; No. 7.1997
- Klassifikation
-
Wirtschaft
Renewable Resources and Conservation: General
Exhaustible Resources and Economic Development
Innovation and Invention: Processes and Incentives
One, Two, and Multisector Growth Models
- Thema
-
Sustainability
endogenous growth
natural resources
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Bretschger, Lucas
- Ereignis
-
Veröffentlichung
- (wer)
-
Fondazione Eni Enrico Mattei (FEEM)
- (wo)
-
Milano
- (wann)
-
1997
- Handle
- Letzte Aktualisierung
-
20.09.2024, 08:21 MESZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Bretschger, Lucas
- Fondazione Eni Enrico Mattei (FEEM)
Entstanden
- 1997
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