The book focuses on the sustainability of economic growth in a changing environment, under the effects of global warming, dwindling energy resources, and technological change. It also provides explanations for significant fluctuations in countries’ growth rates. The results are derived from historical evidence on economic growth in relation to environmental policy, technological change, development of transport infrastructure, population issues, and environmental mortality. The rigorous analysis of theoretical and applied aspects reveals important policy implications for optimal investment, optimal timing of abatement activities, and for an optimal balancing of economic growth with environmental concerns.
Dynamic Systems, Economic Growth, and the Environment
Dynamic Modeling and Econometrics in Economics and Finance Volume 12
Series Editors Stefan Mittnik, University of Munich, Germany Willi Semmler, Bielefeld University, Germany and New School for Social Research, USA
Aims and Scope The series will place particular focus on monographs, surveys, edited volumes, conference proceedings and handbooks on: • Nonlinear dynamic phenomena in economics and finance, including equilibrium, disequilibrium, optimizing and adaptive evolutionary points of view; nonlinear and complex dynamics in microeconomics, finance, macroeconomics and applied fields of economics. • Econometric and statistical methods for analysis of nonlinear processes in economics and finance, including computational methods, numerical tools and software to study nonlinear dependence, asymmetries, persistence of fluctuations, multiple equilibria, chaotic and bifurcation phenomena. • Applications linking theory and empirical analysis in areas such as macrodynamics, microdynamics, asset pricing, financial analysis and portfolio analysis, international economics, resource dynamics and environment, industrial organization and dynamics of technical change, labor economics, demographics, population dynamics, and game theory. The target audience of this series includes researchers at universities and research and policy institutions, students at graduate institutions, and practitioners in economics, finance and international economics in private or government institutions.
Dynamic Systems, Economic Growth, and the Environment by editors
Jesús Crespo Cuaresma University of Innsbruck, Austria
Tapio Palokangas University of Helsinki, Finland
and
Alexander Tarasyev Ural Branch Russian Academy of Sciences, Russia
Professor Jesús Crespo Cuaresma Department of Economics University of Innsbruck SOWI Gebäude, Universitätsstr. 15 6020 Innsbruck Austria
[email protected]
Professor Tapio Palokangas Department of Economics P.O. Box 17 (Arkadiankatu 7) University of Helsinki 00014 Helsinki Finland
[email protected]
Professor Alexander Tarasyev Institute of Mathematics and Mechanics Ural Branch Russian Academy of Sciences S. Kovalevskoi str. 16 620219 Ekaterinburg Russia
[email protected] [email protected]
ISSN 1566-0419 ISBN 978-3-642-02131-2 e-ISBN 978-3-642-02132-9 DOI 10.1007/978-3-642-02132-9 Springer Heidelberg Dordrecht London New York Library of Congress Control Number: 2009938628 ©Springer-Verlag Berlin Heidelberg 2010 This work