The Uzawa-Lucas Growth Model with Natural Resources

Neustroev, Dmitry (2013): The Uzawa-Lucas Growth Model with Natural Resources.

Abstract

This article offers the modification of the Uzawa-Lucas growth model. The model also includes natural resources as a factor of production. The necessary and sufficient conditions for this model are considered. Growth rates of the main macroeconomic indicators along balanced growth path are obtained. The analysis of influence of natural resources on economic growth along balanced growth path is considered.

• Item Type: MPRA Paper
• Language: English
• Keywords: Uzawa-Lucas model, human capital, natural resources
• Subjects: C - Mathematical and Quantitative Methods > C6 - Mathematical Methods ; Programming Models ; Mathematical and Simulation Modeling > C61 - Optimization Techniques ; Programming Models ; Dynamic Analysis; O - Economic Development, Innovation, Technological Change, and Growth > O4 - Economic Growth and Aggregate Productivity > O41 - One, Two, and Multisector Growth Models

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