Feasibility and optimality of sustainable growth under materials balance

Kenichi Akao, Shunsuke Managi

Research output: Contribution to journalArticle

17 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

Fingerprint

Pollution
Optimality
Economics
Endogenous Growth
Natural Resources
Recycling
Economic Growth
Optimality Conditions
Long-run
Natural resources
Material balance
Sustainable growth
Economic growth
Optimality conditions
Economic processes
Endogenous growth theory
Environmental quality

Keywords

  • Endogenous growth
  • Materials balance
  • Sustainable growth

ASJC Scopus subject areas

  • Economics and Econometrics
  • Control and Optimization

Cite this

Feasibility and optimality of sustainable growth under materials balance. / Akao, Kenichi; Managi, Shunsuke.

In: Journal of Economic Dynamics and Control, Vol. 31, No. 12, 12.2007, p. 3778-3790.

Research output: Contribution to journalArticle

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