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Please use this identifier to cite or link to this item: http://hdl.handle.net/2108/269

Title: Renewable resources and sustainable development
Authors: Valente, Simone
Keywords: renewable resources,
sustainable development,
optimal growth
Issue Date: Jul-2002
Publisher: CEIS
Series/Report no.: Quaderni CEIS; 175
Abstract: Conflicts between efficiency and sustainability are typical in the literature on sustainable development. Using a ’capital-resource’ model of optimal growth, Pezzey and Withagen (1998) have proved that if natural capital is exhaustible, consumption falls in the long run. This paper presents a model with resource renewability, capital depreciation, population growth and technical progress. The main result is that non-declining consumption paths are feasible only if the social discount rate does not exceed the sum of the rates of resource regeneration and augmentation, net of population growth. Capital depreciation is neutral with respect to the feasibility of sustainable paths.
URI: http://hdl.handle.net/2108/269
Appears in Collections:Quaderni

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