Technological Change in Resource Extraction and Endogenous Growth

Technological Change in Resource Extraction and Endogenous Growth

Author: Martin Stuermer

Publisher:

Published: 2013

Total Pages: 0

ISBN-13:

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We add an extractive sector to an endogenous growth model of expanding varieties and directed technological change. Extractive firms reduce the stock of non-renewable resources through extraction, but also increase the stock through R&D investment in extraction technology. Our model replicates long-term trends in non-renewable resource markets, namely stable prices and exponentially increasing extraction, for which we present data from 1792 to 2009. The model suggests that the development of new extraction technologies neutralizes the increasing demand for non-renewable resources in industrializing countries like China in the long term.


Essays on Technological Progress and Economic Growth

Essays on Technological Progress and Economic Growth

Author: Jakub Growiec

Publisher: Presses univ. de Louvain

Published: 2007

Total Pages: 192

ISBN-13: 9782874630859

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This thesis covers a broad range of topics in the general area of economic growth theory and economics of technological change. It is primarily about the ultimate sources of growth and its ultimate limitations. We scrutinize the implications of several specifications of long-run growth “engines” found in the theoretical literature and put forward their generalizations and extensions. At the highest level of generality, we provide a formal proof that balanced (i.e. exponential) growth requires knife-edge assumptions which cannot be satisfied by typical values of model parameters. This result implies that at least one such knife-edge assumption must be made if a given model is supposed to deliver balanced growth over the long run. Next, we deal with the issue of resource-based limits to long-run growth. We propose to promote technological progress which would improve the substitutability between non-renewable and renewable resources: if the elasticity of substitution between the two kinds of resources exceeds unity, production will not fall down to zero even after the non-renewable resources will have been completely depleted. Another question asked is whether it is plausible that R&D-based growth, fueled by steady increases in the world’s population, can be extended into indefinite time. We answer this question by introducing endogenous fertility choice, with population entering the utility functional multiplicatively, into an R&D-based semi-endogenous growth model. The next issue addressed here are the idea-based microfoundations of aggregate production functions. We discuss the correspondence between the shape of production functions, the direction of technical change, and the possibility of sustained endogenous growth. A broad class of production functions, nesting both the Cobb-Douglas and the CES function, is derived. Finally, we discuss the impact of the heterogeneity of innovations on long-run economic dynamics: we augment the semi-endogenous growth model with a distinction between radical and incremental innovations. Total R&D output is assumed to depend on technological opportunity which is depleted by incremental innovations but renewed by radical innovations. The dynamic interplay of the arrivals of the two types of innovations is shown to give rise to transitional oscillations.


Scarce Natural Resources, Recycling, Innovation and Growth

Scarce Natural Resources, Recycling, Innovation and Growth

Author: Markus Merz

Publisher: Springer

Published: 2015-12-09

Total Pages: 122

ISBN-13: 365812055X

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This thesis uses neoclassical growth models to evaluate what effect the limited availability of nonrenewable resources has on the economy’s (world’s) 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.


Climate Policy and Nonrenewable Resources

Climate Policy and Nonrenewable Resources

Author: Karen Pittel

Publisher: MIT Press

Published: 2014-08-15

Total Pages: 305

ISBN-13: 0262027887

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Too rapidly rising carbon taxes or the introduction of subsidies for renewable energies induce owners of fossil fuel reserves to increase their extraction rates for fear of their reserves becoming worthless. Fossil fuel use is thus brought forward. The resulting acceleration of global warming and counter-productivity of well-intended climate policy has been coined the Green Paradox. This volume presents a range of studies extending the basic analysis to allow for clean energy alternatives, dirty energy alternatives, and the intricate strategic issues between different countries on the globe.


Energy

Energy

Author: Pardeep Singh

Publisher: John Wiley & Sons

Published: 2021-09-14

Total Pages: 356

ISBN-13: 1119741440

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Energy Global energy demand has more than doubled since 1970. The use of energy is strongly related to almost every conceivable aspect of development: wealth, health, nutrition, water, infrastructure, education and even life expectancy itself are strongly and significantly related to the consumption of energy per capita. Many development indicators are strongly related to per-capita energy consumption. Fossil fuel is the most conventional source of energy but also increases greenhouse gas emissions. The economic development of many countries has come at the cost of the environment. However, it should not be presumed that a reconciliation of the two is not possible. The nexus concept is the interconnection between the resource energy, water, food, land, and climate. Such interconnections enable us to address trade-offs and seek synergies among them. Energy, water, food, land, and climate are essential resources of our natural environment and support our quality of life. Competition between these resources is increasing globally and is exacerbated by climate change. Improving resilience and securing resource availability would require improving resource efficiency. Many policies and programs are announced nationally and internationally for replacing the conventional mode and also emphasizing on conservation of fossil fuels and reuse of exhausted energy, so a gap in implications and outcomes can be broadly traced by comparing the data. This book aims to highlight problems and solutions related to conventional energy utilization, formation, and multitudes of ecological impacts and tools for the conservation of fossil fuels. The book also discusses modern energy services as one of the sustainable development goals and how the pressure on resource energy disturbs the natural flows. The recent advances in alternative energy sources and their possible future growth are discussed and on how conventional energy leads to greenhouse gas formation, which reduces energy use efficiency. The different policies and models operating is also addressed, and the gaps that remained between them. Climate change poses a challenge for renewable energy, and thus it is essential to identify the factors that would reduce the possibility of relying on sustainable energy sources. This book will be of interest to researchers and stakeholders, students, industries, NGOs, and governmental agencies directly or indirectly associated with energy research.


Algae Refinery

Algae Refinery

Author: Sanjeet Mehariya

Publisher: CRC Press

Published: 2023-12-18

Total Pages: 273

ISBN-13: 1003828701

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Algae Refinery: Up- and Downstream Processes offers complete coverage of algae refinery, including up- and downstream processes while proposing an integrated algal refinery for the advancement of existing technologies and summarizing the strategies and future perspectives of algal refinery. It provides a concise introduction to the algal science, biology, technology, and application of algae. It explains downstream and upstream steps of algal refinery for the production of algal biomass, with several social benefits. Features: Provides various aspects of algal bioprocess including upstream and downstream processes Explains the major research streams of algae structures and their pathways Covers algal-based CO2 capture technology Explores the potential applications of algae for socioeconomical benefits Deliberates algal bioremediation approach for clean and sustainable development