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Undesirable growth in a model with capital accumulation and environmental assets

Author

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  • Bartolini, Stefano
  • Bonatti, Luigi

Abstract

The expansion of private production erodes the quality of commonly owned assets, thereby forcing individuals to rely increasingly on private goods to satisfy their needs. In the face of this deterioration, households increase their work effort and accumulate more capital in order to buy more consumer goods both in the present and in the future. By so doing, each household contributes to an increase in production and thus has a detrimental—though negligible—impact on commonly owned assets. Hence, the economy converges to a long-run equilibrium level of production that is higher than the level associated with the Pareto-efficient path.

Suggested Citation

  • Bartolini, Stefano & Bonatti, Luigi, 2003. "Undesirable growth in a model with capital accumulation and environmental assets," Environment and Development Economics, Cambridge University Press, vol. 8(1), pages 11-30, February.
    • Handle: RePEc:cup:endeec:v:8:y:2003:i:01:p:11-30_00
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    Citations

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    Cited by:

    1. Antoci, Angelo & Borghesi, Simone & Russu, Paolo, 2012. "Environmental protection mechanisms and technological dynamics," Economic Modelling, Elsevier, vol. 29(3), pages 840-847.
    2. Antoci, Angelo & Russu, Paolo & Ticci, Elisa, 2008. "Structural Change, Environment and Well-being: Interactions Between Production and Consumption Choices of the Rich and the Poor in Developing Countries," Sustainability Indicators and Environmental Valuation Working Papers 37671, Fondazione Eni Enrico Mattei (FEEM).
    3. Antoci, Angelo & Borghesi, Simone & Russu, Paolo & Ticci, Elisa, 2015. "Foreign direct investments, environmental externalities and capital segmentation in a rural economy," Ecological Economics, Elsevier, vol. 116(C), pages 341-353.
    4. Antoci, Angelo & Borghesi, Simone, 2012. "Preserving or escaping? On the welfare effects of environmental self-protective choices," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 41(2), pages 248-254.
    5. Antoci, Angelo, 2009. "Environmental degradation as engine of undesirable economic growth via self-protection consumption choices," Ecological Economics, Elsevier, vol. 68(5), pages 1385-1397, March.
    6. Angelo Antoci, 2005. "Environmental Resources Depletion and Interplay Between Negative and Positive Externalities in a Growth Model," Working Papers 2005.9, Fondazione Eni Enrico Mattei.
    7. Angelo Antoci & Marcello Galeotti & Serena Sordi, 2016. "Environmental pollution as engine of industrialization," Department of Economics University of Siena 725, Department of Economics, University of Siena.
    8. Stefano Bartolini & Luigi Bonatti, 2004. "Social Capital and its Role in Production: Does the Depletion of Social Capital Depress Economic Growth?," Department of Economics University of Siena 421, Department of Economics, University of Siena.
    9. Angelo Antoci & Simone Borghesi & Marcello Galeotti, 2008. "Should we replace the environment?," International Journal of Social Economics, Emerald Group Publishing Limited, vol. 35(4), pages 283-297, March.
    10. Angelo Antoci & Simone Borghesi, 2010. "Environmental degradation, self-protection choices and coordination failures in a North–South evolutionary model," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 5(1), pages 89-107, June.
    11. Antoci, Angelo & Sodini, Mauro, 2009. "Indeterminacy, bifurcations and chaos in an overlapping generations model with negative environmental externalities," Chaos, Solitons & Fractals, Elsevier, vol. 42(3), pages 1439-1450.

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