This thesis uses neoclassical growth models toevaluate what effect the limited availability of nonrenewable resources has onthe economys (worlds) growth potential. Markus Merz concludes that recyclingmay serve as a mid-term solution to continued growth, but technologicalprogress is needed in the long-run. The theoretical analysis starts with thewell-known Dasgupta-Heal model and considers the effect of recycling andtechnological progress on the resource constraints; resource-augmenting andbackstop technology are analyzed. After a thorough analysis of the models it isconcluded that the ultimate solution to long-term economic growth is a backstoptechnology.
An Introduction to Economic Growth Theory.- The Dasgupta-Heal Model.- Recycling as a Source of Regeneration.- Technological Progress.
Markus Merz is a research fellow at the Department of Banking,University of Tuebingen. His research interests are access to finance, financeand growth and microeconomics of banking.
This thesis uses neoclassical growth models to evaluate what effect the limited availability of nonrenewable resources has on the economys (worlds) growth potential. Markus Merz concludes that recycling may serve as a mid-term solution to continued growth, but technological progress is needed in the long-run. The theoretical analysis starts with the well-known Dasgupta-Heal model and considers the effect of recycling and technological progress on the resource constraints; resource-augmenting and backstop technology are analyzed. After a thorough analysis of the models it is concluded that the ultimate solution to long-term economic growth is a backstop technology.
Contents
An Introduction to Economic Growth Theory
The Dasgupta-Heal Model
![Scarce Natural Resources, Recycling, Innovation and Growth [Paperback]](/itemImage/2/3/7/9/2_1024986.jpg "Scarce Natural Resources, Recycling, Innovation and Growth [Paperback] xxx")