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The Roles of the Environment and Natural Resources in Economic Growth Analysis

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  • Toman, Michael
Abstract
The primary aim of this paper is pedagogical. We first present and discuss a “wiring diagram” framework in order to elucidate the general links between economic growth and "natural capital." After developing the general framework, we develop parallel frameworks applicable to several specific sectors of the economy (agriculture, forestry, and manufacturing). Two appendices provide a mathematical formulation of the economy-wide framework and a brief historical review of the role of natural resources and the environment in economic growth theory.

Suggested Citation

  • Toman, Michael, 2003. "The Roles of the Environment and Natural Resources in Economic Growth Analysis," RFF Working Paper Series dp-02-71, Resources for the Future.
    • Handle: RePEc:rff:dpaper:dp-02-71
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    References listed on IDEAS

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    1. Heal, Geoffrey M., 1993. "The optimal use of exhaustible resources," Handbook of Natural Resource and Energy Economics, in: A. V. Kneese† & J. L. Sweeney (ed.), Handbook of Natural Resource and Energy Economics, edition 1, volume 3, chapter 18, pages 855-880, Elsevier.
    2. Paul J. Ferraro & R. David Simpson, 2002. "The Cost-Effectiveness of Conservation Payments," Land Economics, University of Wisconsin Press, vol. 78(3), pages 339-353.
    3. Antonio Estache, 1994. "World Development Report: Infrastructure for Development," ULB Institutional Repository 2013/44144, ULB -- Universite Libre de Bruxelles.
    4. Robert M. Solow, 1974. "The Economics of Resources or the Resources of Economics," Palgrave Macmillan Books, in: Chennat Gopalakrishnan (ed.), Classic Papers in Natural Resource Economics, chapter 12, pages 257-276, Palgrave Macmillan.
    5. John Hartwick, 1977. "Intergenerational Equity and the Investment of Rents from Exhaustible Resources in a Two Sector Model," Working Paper 281, Economics Department, Queen's University.
    6. Hartwick, John M, 1977. "Intergenerational Equity and the Investing of Rents from Exhaustible Resources," American Economic Review, American Economic Association, vol. 67(5), pages 972-974, December.
    7. R. M. Solow, 1974. "Intergenerational Equity and Exhaustible Resources," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 41(5), pages 29-45.
    8. Nordhaus, William D., 1993. "Rolling the 'DICE': an optimal transition path for controlling greenhouse gases," Resource and Energy Economics, Elsevier, vol. 15(1), pages 27-50, March.
    9. Joseph Stiglitz, 1974. "Growth with Exhaustible Natural Resources: Efficient and Optimal Growth Paths," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 41(5), pages 123-137.
    10. Partha Dasgupta & Geoffrey Heal, 1974. "The Optimal Depletion of Exhaustible Resources," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 41(5), pages 3-28.
    11. Low, P., 1992. "International Trade and the Environment," World Bank - Discussion Papers 159, World Bank.
    12. Elizabeth J. Z. Robinson & Jeffrey C. Williams & Heidi J. Albers, 2002. "The Influence of Markets and Policy on Spatial Patterns of Non-Timber Forest Product Extraction," Land Economics, University of Wisconsin Press, vol. 78(2), pages 260-271.
    13. Jeroen C.J.M. van den Bergh (ed.), 1999. "Handbook of Environmental and Resource Economics," Books, Edward Elgar Publishing, number 801.
    14. Carraro,Carlo & Siniscalco,Domenico (ed.), 1997. "New Directions in the Economic Theory of the Environment," Cambridge Books, Cambridge University Press, number 9780521590891, September.
    15. López, Ramón, 2000. "Trade reform and environmental externalities in general equilibrium: analysis for an archetype poor tropical country," Environment and Development Economics, Cambridge University Press, vol. 5(4), pages 377-404, October.
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    Cited by:

    1. Charles Ayobola Olufolake & Anthony Onogiese Osobase & Wilson Friday Ohioze & Samuel Olayinka Musa & Tope Joshua Ojo, 2022. "Analysis of the impact of natural resources and globalization on environmental quality and economic growth: The study of SANE nations," ECONOMICS AND POLICY OF ENERGY AND THE ENVIRONMENT, FrancoAngeli Editore, vol. 2022(2), pages 219-235.
    2. Bildirici, Melike, 2012. "Economic Growth and Electricity Consumption in Africa and Asia: MS-VAR and MS-GRANGER Causality Analysis," MPRA Paper 40515, University Library of Munich, Germany.
    3. Evangelos Rasvanis & Vassilis Tselios, 2021. "Do agglomeration economies matter where natural endowments are? Lessons from Greece," Regional Science Policy & Practice, Wiley Blackwell, vol. 13(3), pages 1009-1024, June.
    4. ERREYGERS, Guido & FEREDE, Tadele, 2009. "The end of subsistence farming: Growth dynamics and investments in human and environmental capital in rural Ethiopia," Working Papers 2009008, University of Antwerp, Faculty of Business and Economics.
    5. Stefanescu, Răzvan & Dumitriu, Ramona, 2015. "Creşterea economică a României între 1980 şi 2013 [The Economic Growth of Romania between 1980 and 2013]," MPRA Paper 61592, University Library of Munich, Germany.
    6. Abdul Rehman & Hengyun Ma & Ilhan Ozturk & Muntasir Murshed & Vishal Dagar, 2021. "The dynamic impacts of CO2 emissions from different sources on Pakistan’s economic progress: a roadmap to sustainable development," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 23(12), pages 17857-17880, December.

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    More about this item

    Keywords

    economic growth; natural resources; sustainable development;
    All these keywords.

    JEL classification:

    • Q00 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - General
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development

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