The direction of technical change in capital-resource economies

DSpace/Manakin Repository

Show simple item record Di Maria, Corrado Valente, Simone 2009-02-09T17:19:37Z 2009-02-09T17:19:37Z Swiss Federal Institute of Technology Zurich 2006 en 2006-03
dc.description.abstract We analyze a multi-sector growth model with directed technical change where man-made capital and exhaustible resources are essential for production. The relative profitability of factor-specific innovations endogenously determines whether technical progress will be capital- or resource-augmenting. We show that convergence to balanced growth implies zero capital-augmenting innovations: in the long run, the economy exhibits purely resource-augmenting technical change. This result provides sound microfoundations for the broad class of models of exogenous/endogenous growth where resource-augmenting progress is required to sustain consumption in the long run, contradicting the view that these models are conceptually biased in favor of sustainability. en
dc.format.extent 4304 bytes
dc.format.mimetype application/pdf
dc.language.iso en en
dc.publisher Swiss Federal Institute of Technology Zurich en
dc.relation.ispartofseries Center of Economic Research at ETH Zurich Economics Working Paper Series en
dc.relation.ispartofseries No. 06/50 en
dc.subject Endogenous growth en
dc.subject Directed technical change en
dc.subject Exhaustible resources en
dc.subject.classification O31 en
dc.subject.classification O33 en
dc.subject.classification O41 en
dc.subject.classification Q32 en
dc.subject.lcsh Economic development--Mathematical models en
dc.subject.lcsh Technological innovations en
dc.subject.lcsh Nonrenewable natural resources en
dc.title The direction of technical change in capital-resource economies en
dc.type Working Paper en
dc.internal.authorurl Corrado Di Maria (web page) en
dc.internal.authorurl en
dc.internal.authorid UCD0030 en
dc.internal.availability Full text not available en
dc.internal.webversions Publisher's version en
dc.internal.webversions en
dc.status Not peer reviewed en
dc.neeo.contributor Di Maria|Corrado|aut|UCD0030
dc.neeo.contributor Valente|Simone|aut|

Files in this item

Files Size Format View

There are no files associated with this item.

This item appears in the following Collection(s)

Show simple item record

This item is available under the Attribution-NonCommercial-NoDerivs 3.0 Ireland. No item may be reproduced for commercial purposes. For other possible restrictions on use please refer to the publisher's URL where this is made available, or to notes contained in the item itself. Other terms may apply.

If you are a publisher or author and have copyright concerns for any item, please email and the item will be withdrawn immediately. The author or person responsible for depositing the article will be contacted within one business day.

Search Research Repository

Advanced Search