Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/261065 
Authors: 
Year of Publication: 
2021
Series/Report no.: 
WWZ Working Paper No. 2021/12
Publisher: 
University of Basel, Center of Business and Economics (WWZ), Basel
Abstract: 
Global economic convergence and protection of the climate are both worthwhile goals. Yet, there is an inherent tension between them. Greenhouse gases are a waste product that is often emitted in the production process. Limiting such emissions therefore hampers the accumulation of income and capital. I expand Solow's growth model to accommodate green house gases, and use this to estimate the contribution of such emissions to economic development. The sobering insight is that we would not have witnessed any convergence in the last 45 years if poorer countries had not increased greenhouse gas emissions.
Subjects: 
climate change
convergence
growth theory
growth accounting
green housegases
GHG
carbon emissions
pollution
poverty
natural resources
JEL: 
O44
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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