Transitional Impacts of Environmental Policy in an Endogenous Growth Model

Bovenberg, A.L.; Smulders, J.A.

doi:10.2307/2527315

Cited by 213 publications

(108 citation statements)

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“…Typically, this requires technological progress in use of the resource to be sufficiently faster than in use of other inputs. If proper account is taken of renewable resources, ongoing growth is feasible (e.g., Bovenberg and Smulders, 1996;Elíasson and Turnovsky, 2004).…”

Section: Preamble: Optimal Conversion Of Depleting Natural Resources mentioning

confidence: 99%

Natural Resources: Curse or Blessing?

Ploeg

2011

Journal of Economic Literature

1,372

177

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Abstract Are natural resources a "curse" or a "blessing"? The empirical evidence suggests either outcome is possible. The paper surveys a variety of hypotheses and supporting evidence for why some countries benefit and others lose from the presence of natural resources. These include that a resource bonanza induces appreciation of the real exchange rate, deindustrialization and bad growth prospects, and that these adverse effects are more severe in volatile countries with bad institutions and lack of rule of law, corruption, presidential democracies, and underdeveloped financial systems. Another hypothesis is that a resource boom reinforces rent grabbing and civil conflict especially if institutions are bad, induces corruption especially in non-democratic countries, and keeps in place bad policies. Finally, resource rich developing economies seem unable to successfully convert their depleting exhaustible resources into other productive assets. The survey also offers some welfare-based fiscal rules for harnessing resource windfalls in developed and developing economies. Terms of use: Documents inJEL-Code: C12, C13, E01, F43, K42, O41, Q30.

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Section: Preamble: Optimal Conversion Of Depleting Natural Resources mentioning

confidence: 99%

Natural Resources: Curse or Blessing?

Ploeg

2011

Journal of Economic Literature

1,372

177

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“…This model, including a basic climate module and generic production and consumption behavior, is an extension of DEMETER that previously has been instrumental in our study of several climate policy queries (see van der Zwaan et al, 2002;Gerlagh and van der Zwaan, 2003;van der Zwaan and Gerlagh, 2006). DEMETER contributes to bridging research of endogenous growth (such as Bovenberg andSmulders, 1996, andChakravorty et al, 1997) with top-down integrated assessment analyses of the economics of climate change (e.g. Buonanno et al, 2003, andGoulder andMathai, 2000).…”

Section: Demeter With Ccs and Leakagementioning

confidence: 99%

Economics of geological CO2 storage and leakage

Zwaan

Gerlagh

2009

Climatic Change

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“…This important result has become a stepping stone, and has proved robust to a number of extensions, including capital accumulation dynamics (e.g. Bovenberg and Goulder [1996] and Bovenberg and Smulders [1996]). A second strand of this literature is positive in nature.…”

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confidence: 92%

Green Taxes and Double Dividends in a Dynamic Economy

2004

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This paper examines a revenue neutral green tax reform along the lines of the Double Dividend hypothesis. Using a dynamic general equilibrium model calibrated to the US economy, we find that increasing gasoline taxes and using the revenue to reduce capital income taxes does indeed deliver both types of welfare gains: from higher consumption of market goods ( an efficiency dividend), and from a better environmental quality (a green dividend), even though in the new steady state environmental quality may worsen. We also find that, given the available evidence on how much households are willing to pay for improvements in air quality, the size of the green dividend is very small in absolute magnitude, and much smaller than the efficiency dividend.

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Transitional Impacts of Environmental Policy in an Endogenous Growth Model

Cited by 213 publications

References 0 publications

Natural Resources: Curse or Blessing?

Natural Resources: Curse or Blessing?

Economics of geological CO2 storage and leakage

Green Taxes and Double Dividends in a Dynamic Economy

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