Logo
Munich Personal RePEc Archive

Sources of Economic Growth in Models with Non-Renewable Resources

Sriket, Hongsilp and Suen, Richard M. H. (2019): Sources of Economic Growth in Models with Non-Renewable Resources.

Warning
There is a more recent version of this item available.
[thumbnail of MPRA_paper_96544.pdf]
Preview
PDF
MPRA_paper_96544.pdf

Download (266kB) | Preview

Abstract

This paper re-examines the possibility of endogenous long-term economic growth in neoclassical models with non-renewable resources. Instead of using a Cobb-Douglas production function as in most existing studies, we consider a general form in which physical capital is functionally separable from labour and natural resources. It is shown that if the elasticity of substitution between labour and resources is identical to one, then long-term economic growth is endogenous. But if this elasticity is not equal to one, as suggested by empirical studies, then long-term economic growth is entirely driven by an exogenous technological factor.

Available Versions of this Item

Atom RSS 1.0 RSS 2.0

Contact us: mpra@ub.uni-muenchen.de

This repository has been built using EPrints software.

MPRA is a RePEc service hosted by Logo of the University Library LMU Munich.