On the impossibility of sustainable growth in a manufacturing based economy
Bibliographic Data
| ID | 15068207 |
|---|---|
| Authors | Sang Won Yoon (0000-0002-0201-8031, Southern Connecticut State University, corresponding author), Chang-Ho Yoon (0000-0002-0168-3398, Korea University) |
| Year | 2018 |
| Volume | 31 |
| Issue | 1 |
| Pages | 1526-1538 |
| Publication date | 2018-01-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Economic Research-Ekonomska Istraživanja (JOURNAL) |
| Journal identifiers | ISSN: 1331-677X • E-ISSN: 1848-9664 |
| Publisher | Informa UK Limited (PUBLISHER • GB) |
| DOI | 10.1080/1331677x.2018.1498008 |
| OpenAlex | W2896283433 |
| Language | EN |
| Citations received | 2 |
| References cited | 15 |
This paper investigates a possibility of sustainable growth in a multi-output endogenous growth framework where the capital accumulation takes place mainly through the production of the dirty manufactured goods. It is shown that in a closed economy, economic growth is not environmentally sustainable, even under an optimal pollution tax unless the consumption elasticity of substitution between clean and dirty goods approaches infinity as in a small open economy which exports dirty goods. There exists a minimal threshold level of the ratio of clean to dirty capital that ensures sustainable growth in a closed economy
Capital good · Economics · Economy · Elasticity of substitution · Endogenous growth theory · Goods and services · Human capital · Impossibility · Market economy · Microeconomics · Natural resource economics · Sustainable development · Sustainable Growth Rate · Climate Change Policy and Economics · Fiscal Policy and Economic Growth · Sustainable Development and Environmental Policy
| Unique citing works | 2 |
|---|---|
| Citations per year | 0,33 |
| Citation span | 2020 - 2020 (1) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 2 |