Skoči na glavni sadržaj

Izvorni znanstveni članak

https://doi.org/10.1080/1331677X.2018.1498008

On the impossibility of sustainable growth in a manufacturing based economy

Sang Won Yoon ; Department of Economics and Finance, Southern Connecticut State University, New Haven, CT, USA
Chang-Ho Yoon ; Department of Economics, Korea University, Seoul, Korea


Puni tekst: engleski pdf 1.323 Kb

str. 1526-1538

preuzimanja: 512

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Sažetak

This paper investigates a possibility of sustainable growth in a
multi-output endogenous growth framework where the capital
accumulation takes place mainly through the production of the
dirty manufactured goods. It is shown that in a closed economy,
economic growth is not environmentally sustainable, even under
an optimal pollution tax unless the consumption elasticity of substitution
between clean and dirty goods approaches infinity as in
a small open economy which exports dirty goods. There exists a
minimal threshold level of the ratio of clean to dirty capital that
ensures sustainable growth in a closed economy.

Ključne riječi

Sustainable growth; environmental Kuznets curve; elasticity of marginal utility; elasticity of substitution

Hrčak ID:

209134

URI

https://hrcak.srce.hr/209134

Datum izdavanja:

3.12.2018.

Posjeta: 867 *