000019846 001__ 19846
000019846 005__ 20180122201610.0
000019846 037__ $$a375-2016-19901
000019846 041__ $$aen
000019846 245__ $$aCONSERVATION CAPITAL AND SUSTAINABLE ECONOMIC GROWTH
000019846 260__ $$c2002
000019846 269__ $$a2002
000019846 270__ $$mdtramire@uiuc.edu$$pRamirez, Donna Theresa J.
000019846 270__ $$mkhanna1@uiuc.edu$$pKhanna,   Madhu
000019846 270__ $$mzilber@are.berkeley.edu$$pZilberman,   David
000019846 300__ $$a32
000019846 336__ $$aConference Paper/ Presentation
000019846 446__ $$aEnglish
000019846 490__ $$aSelected Paper
000019846 520__ $$aThis paper develops an endogenous growth model which links pollution to ineffective input-use, which can be reduced through conservation capital investment. It derives the conditions under which individual preferences for environmental quality and private investment in conservation capital can lead to non-decreasing environmental quality and balanced growth in an unregulated and in a regulated regime.  In the absence of regulation, balanced growth can lead to improvement in environmental quality as long as the rate of growth is low. The extent to which the growth rate is low depends upon preference for environmental quality, interest and discount rates, productivity of conservation capital, and price of the polluting input.  Under an emissions tax regime, sustainable balanced growth requires the interest rate to lie between the amenity value derived by consumers from environmental improvement and the marginal return to the firm due to the regenerative capacity of the environment.  This implies that interest rate must be high enough to encourage consumers to forego consumption but low enough to constrain the productivity of conservation capital and restrain usage of the polluting input. The emissions tax is also shown to be equivalent to a pollution permit system or to a two-instrument scheme composed of a tax on polluting input and a subsidy on conservation capital investment.
000019846 650__ $$aEnvironmental Economics and Policy
000019846 650__ $$aInternational Development
000019846 700__ $$aRamirez, Donna Theresa J.
000019846 700__ $$aKhanna, Madhu
000019846 700__ $$aZilberman, David
000019846 8564_ $$s118939$$uhttps://ageconsearch.umn.edu/record/19846/files/sp02ra02.pdf
000019846 887__ $$ahttp://purl.umn.edu/19846
000019846 909CO $$ooai:ageconsearch.umn.edu:19846$$pGLOBAL_SET
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  Previous issue date: 2002
000019846 982__ $$gAmerican Agricultural Economics Association>2002 Annual meeting, July 28-31, Long Beach, CA
000019846 980__ $$a375