Environmental consciousness, economic growth, and macroeconomic instability

Autor:	Jhy-hwa Chen, Shu-hua Chang, Jhy-yuan Shieh, Ching-Chong Lai
Rok vydání:	2014
Předmět:	Macroeconomics Economics and Econometrics Economic growth rate Endogenous growth theory media_common.quotation_subject Planned economy Growth model Environmental economics Economics Environmental consciousness Function (engineering) Finance Externality media_common
Zdroj:	International Review of Economics & Finance. 34:151-160
ISSN:	1059-0560
DOI:	10.1016/j.iref.2014.08.006
Popis:	This paper develops an endogenous growth model to examine the linkages between environmental consciousness and economic growth. It is found that macroeconomic instability can arise in a simple AK-type growth model when the pollution externality is present only in the agent's utility function. It is also found that the impact of environmental consciousness on the economic growth rate is ambiguous. The economic systems (a decentralized versus centralized economy) and the ecological evolution (the specific pollution growth rate) are two crucial factors that determine the relationship between environmental consciousness and economic growth.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::4701e78298028671ecaf134ad7b6dd03 https://doi.org/10.1016/j.iref.2014.08.006 Zobrazit plný text záznamu Full Text from ScienceDirect