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    Title: A Comment on Huang and Cai's Constant-Returns Endogenous Growth with Pollution Control
    Authors: Shieh, Jhy-yuan;Lai, Ching-chong;Chen, Jhy-hwa
    Contributors: 淡江大學經濟學系
    Date: 2001-10
    Issue Date: 2009-11-30 18:36:44 (UTC+8)
    Publisher: Springer
    Abstract: In an interesting paper published in Environmental and Resource Economics,
    Huang and Cai (1994) developed an AK type technology endogenous growth
    model to address the impact of the environment on economic growth and social
    welfare. In that paper the emission is treated as an inevitable by-product of
    productive activity and the stock of pollution is put into the agent’s utility function
    to capture the environment’s amenity value. However, the Huang and Cai (1994)
    conclusions may be modified, or at least accepted with considerable caution, since
    in their analysis the abatement expenditure share is inappropriately shown to be
    constant at all times. In this paper we attempt to re-examine what the true forces
    are that govern the balanced growth rate.
    The rest of the paper is organized as follows. Section 2 outlines the Huang and
    Cai (1994) model and shows that there exists a unique endogenously-determined
    steady-state economic growth rate and steady-state abatement expenditure share
    when the economy is characterized by a unique perfect-foresight equilibrium.
    Section 3 re-examines the comparative statics reported in Huang and Cai (1994).
    Specifically, we will address how the economic growth rate reacts following
    changes in environmental factors and public abatement expenditure. Finally, some
    concluding remarks are presented in section 4.
    Relation: Environmental and resource economics 20(2), pp.165-172
    DOI: 10.1023/A:1012677914363
    Appears in Collections:[國際企業學系暨研究所] 期刊論文
    [經濟學系暨研究所] 期刊論文

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