Format du dépôt |
Fichier |
Type de dépôt |
Autre publication scientifique |
Titre |
en
Transitional Dynamics in an R&D-based Growth Model with Natural Resources
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Résumé |
en
Upon introducing natural resources, both renewable and non-renewable, into an endogenous growth framework with R&D, this paper derives the transitional dynamics of an economy towards its long-run equilibrium. Using the Euler - Lagrange framework, this paper has succesfully figured out the optimal paths of the economy. It then shows the existence and uniqueness of a balanced growth path for each type of resources. The steady state is shown to be of a saddle point stability. Along the balanced growth path, it is found that a finite size resource sector coexists with other continuously growing sectors. The paper then examines long-run responses of the economy to various changes pertaining to innovative production condition, resource sector parameters as well as rate of time preference. It also shows that positive long-run growth will be sustained regardless the type of resources used.
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Auteur(s)
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Thanh Le
1
, Cuong Le Van
2, 3, 4
1
UQ [All campuses : Brisbane, Dutton Park Gatton, Herston, St Lucia and other locations] -
The University of Queensland
( 250752 )
- Brisbane, St Lucia, QLD 4072
- Australie
2
VCREME -
Van Xuan Center of Research in Economics, Management and Environment
( 155772 )
- 38, alley 133, Thai Ha Street, Ha Noi
- Viêt Nam
3
CES -
Centre d'économie de la Sorbonne
( 15080 )
- Maison des Sciences Économiques - 106-112 Boulevard de l'Hôpital - 75647 Paris Cedex 13
- France
-
Université Paris 1 Panthéon-Sorbonne UMR8174 ( 7550 )
;
-
Centre National de la Recherche Scientifique UMR8174 ( 441569 )
4
IPAG Business School
( 542840 )
- 184 boulevard Saint-Germain, 75006 Paris
- France
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Langue du document |
Anglais
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Vulgarisation |
Non
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Date de publication |
2014-10
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Description |
Documents de travail du Centre d'Economie de la Sorbonne 2014.75 - ISSN : 1955-611X
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Commentaire |
Domaine(s) |
-
Sciences de l'Homme et Société/Economies et finances
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Mots-clés (JEL) |
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O - Economic Development, Innovation, Technological Change, and Growth/O.O1 - Economic Development/O.O1.O13 - Agriculture • Natural Resources • Energy • Environment • Other Primary Products
-
O - Economic Development, Innovation, Technological Change, and Growth/O.O3 - Innovation • Research and Development • Technological Change • Intellectual Property Rights/O.O3.O31 - Innovation and Invention: Processes and Incentives
-
O - Economic Development, Innovation, Technological Change, and Growth/O.O4 - Economic Growth and Aggregate Productivity/O.O4.O41 - One, Two, and Multisector Growth Models
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Mots-clés |
en
R&D-based growth, natural resources, vertical innovation, transitional dynamics
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