Maciej Malaczewski
ARTICLE

(Polish) PDF

ABSTRACT

The aim of this paper is to analyze long-run economic growth of the economy endowed with natural resources. In the model we assume that natural resources are the main source of the energy necessary to power physical capital. We also assume existence of second type of physical capital that does not need energy. We consider optimal consumption per capita – maximizing behaviour of the economy, and also analyze the time of exhaustion of natural resources.

KEYWORDS

non-renewable natural resources, economic growth, natural resources as an energy source, complementarity between natural resources and physical capital

REFERENCES

Acemoglu D., (2009), Introduction to Modern Economic Growth, MIT press.

Amigues J. P., Grimaud A., Moreaux M., (2004), Optimal Endogenous Sustainability with an Exhaustible Resource Through Dedicated R&D, Les Cahiers du LERNA, 4, 154.

Antony J., (2007), Depletion of Non-Renewable Resources and Endogenous Technical Change (No. 291), Volkswirtschaftliche Diskussionsreihe/Institut für Volkswirtschaftslehre der Universität Augsburg.

Bretschger L., (2013), Population Growth and Natural Resource Scarcity: Long-Run Development under Seemingly Unfavorable Conditions, The Scandinavian Journal of Economics, 115 (3), 722–755.

Costanza R., Daly H. E., (1992), Natural Capital and Sustainable Development, Conservation Biology, 6 (1), 37–46.

Costantini V., Martini C., (2010), The Causality between Energy Consumption and Economic Growth: A Multi-Sectoral Analysis using Non-stationary Cointegrated Panel Data, Energy Economics, 32 (3), 591–603.

Dalgaard C. J., Strulik H., (2007), Rediscovering the Solow Model: An Energy Network Approach, Discussion Papers, Department of Economics, University of Copenhagen.

Daly H. E., (1997), Georgescu-Roegen versus Solow/Stiglitz, Ecological Economics, 22 (3), 261–266.

Daly H. E., (1999), How Long Can Neoclassical Economists Ignore the Contributions of Georgescu-Roegen? Bioeconomics and Sustainability: Essays in Honour of Nicholas Georgescu-Roegen, 13–24.

Dasgupta P., Heal G., (1974), The Optimal Depletion of Exhaustible Resources, The Review of Economic Studies, 41 (5), 3–28.

da Silva A. S., (2008), Growth with Exhaustible Resource and Endogenous Extraction Rate, Economic Modelling, 25 (6), 1165–1174.

Georgescu-Roegen N., (1979), Energy Analysis and Economic Valuation, Southern Economic Journal, 1023–1058.

Grimaud A., Rougé L., (2008), Environment, Directed Technical Change and Economic Policy, Environmental and Resource Economics, 41 (4), 439–463.

Grimaud A., Rougé L., (2014), Carbon Sequestration, Economic Policies and Growth, Resource and Energy Economics, 36 (2), 307–331.

Groth C., Schou P., (2002), Can Non-renewable Resources Alleviate the Knife-edge Character of Endogenous Growth? Oxford Economic Papers, 54 (3), 386–411.

Groth C., Schou P., (2007), Growth and Non-renewable Resources: the Different Roles of Capital and Resource Taxes, Journal of Environmental Economics and Management, 53 (1), 80–98.

Growiec J., Schumacher I., (2008), On Technical Change in the Elasticities of Resource Inputs, Resources Policy, 33 (4), 210–221.

Lee C. C., Chang C. P., Chen P. F., (2008), Energy-Income Causality in OECD Countries Revisited: The Key Role of Capital Stock, Energy Economics, 30 (5), 2359–2373.

Malaczewski M., (2014), Zasoby naturalne, postęp techniczny a długookresowy wzrost gospodarczy, WUŁ, Łódź.

Mankiw N. G., Romer D.,Weil D. N., (1992), A Contribution to the Empirics of Economic Growth, The Quarterly Journal of Economics, 107 (2), 407–437.

Neustroev D., (2013), The Uzawa-Lucas Growth Model with Natural Resources (No. 52937), University Library of Munich, Germany.

Pittel K., Bretschger L., (2010), The Implications of Heterogeneous Resource Intensities on Technical Change and Growth, Canadian Journal of Economics/Revue canadienne d’économique, 43 (4), 1173–1197.

Scholz C. M., Ziemes G., (1999), Exhaustible Resources, Monopolistic Competition, and Endogenous Growth, Environmental and Resource Economics, 13 (2), 169–185.

Smulders S., De Nooij M., (2003), The Impact of Energy Conservation on Technology and Economic Growth, Resource and Energy Economics, 25 (1), 59–79.

Solow R. M., (1956), A Contribution to the Theory of Economic Growth, The Quarterly Journal of Economics, 70 (1), 65–94.

Solow R. M., (1974), Intergenerational Equity and Exhaustible Resources, The Review of Economic Studies, 41 (5), 29–45.

Stern D. I., Cleveland C. J., (2004), Energy and Economic Growth, Encyclopedia of energy, 2, 35–51.

Stern D. I., (2011), The Role of Energy in Economic Growth, Annals of the New York Academy of Sciences, 1219 (1), 26–51.

Stiglitz J., (1974), Growth with Exhaustible Resources: Efficient and Optimal Growth Paths, Review of Economic Studies, (symposium volume), 123–137.

Stuermer M., Schwerhoff G., (2013), Technological Change in Resource Extraction and Endogenous Growth, Bonn Econ Discussion Papers, 12.

Tokarski T., (2011), Ekonomia matematyczna. Modele Makroekonomiczne, PWE, Warszawa.

Van Zon A., Yetkiner I. H., (2003), An Endogenous Growth Model with Embodied Energy-saving Technical Change, Resource and Energy Economics, 25 (1), 81–103.

Back to top
Copyright © 2019 Statistics Poland