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Title:Sustainable economic development and the environment: Theory and evidence PDF Logo
Authors:Bertinelli, Luisito
Strobl, Eric
Zou, Benteng
Issue Date:2005
Series/Report no.:Working papers // Institute of Mathematical Economics 369
Abstract:The relationship between growth and pollution is studied through a vintage capital model, where new technology is more environmentally friendly. We find that once the optimal scrapping age of technologies is reached, an economy may achieve two possible cases of sustainable development, one in which pollution falls and another in which it stabilizes, or a catastrophic outcome, where environmental quality reaches its lower bound. The outcome will depend on countries' investment path and their propensity to innovate in environmentally clean technologies, both of which are likely to differ across economies. Empirical results using long time series for a number of developed and developing countries indeed confirm heterogeneous experiences in the pollution-output relationship.
Subjects:Environmental quality
Sustainable economic development
Vintage capital model
EKC (Environmental Kuznets Curve)
Persistent Identifier of the first edition:urn:nbn:de:hbz:361-7349
Document Type:Working Paper
Appears in Collections:Working Papers, Center for Mathematical Economics (IMW), Bielefeld University

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