Feasibility and optimality of sustainable growth under materials balance

Ken Ichi Akao, Shunsuke Managi

Research output: Contribution to journalArticlepeer-review

20 Citations (Scopus)

Abstract

Pollution from consumption and production is an inevitable part of economic processes. We employ a materials balance approach and develop an endogenous growth theory, with recycling activity, to examine the evolution of the economic and environment systems. This paper provides feasibility and optimality conditions for sustainable economic growth with rising environmental quality. The fundamental condition of feasibility is that the flow of natural resources, which eventually returns to the environment as waste and pollution, has a negative growth rate in the long run.

Original languageEnglish
Pages (from-to)3778-3790
Number of pages13
JournalJournal of Economic Dynamics and Control
Volume31
Issue number12
DOIs
Publication statusPublished - 2007 Dec

Keywords

  • Endogenous growth
  • Materials balance
  • Sustainable growth

ASJC Scopus subject areas

  • Economics and Econometrics
  • Control and Optimization
  • Applied Mathematics

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