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Economic dynamics with renewable resources and pollution

Abstract : This article considers a two-sector economy with externalities. In particular, the analysis involves an industrial sector whose polluting production activities have negative effects on the regeneration of a natural resource in the other sector. Without convexity or supermodularity, we prove that the economy evolves to increase the net gain of stock (a similar notion to the net gain of investment in Kamihigashi and Roy (2007)), and establish the conditions ensuring the convergence of the economy in the long run.
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https://hal-paris1.archives-ouvertes.fr/hal-03261262
Contributor : Umr 8174 Centre d'Économie de la Sorbonne <>
Submitted on : Tuesday, June 15, 2021 - 3:37:36 PM
Last modification on : Thursday, July 15, 2021 - 2:24:54 PM

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My Dam, Thai Ha-Huy, Cuong Le Van, Thi Tuyet Mai Nguyen. Economic dynamics with renewable resources and pollution. Mathematical Social Sciences, Elsevier, 2020, 108, pp.14-26. ⟨10.1016/j.mathsocsci.2020.08.002⟩. ⟨hal-03261262⟩

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