Data on Economic Dynamics Detailed by Researchers at Tilburg University
2012 MAY 4 - (VerticalNews.com) -- "We study long-run growth in a multi-sector economy with non-renewable resource use and endogenous innovations," scientists in Tilburg, Netherlands report.
"Unlike recent capital resource models, we find that poor input substitution need not be detrimental for sustainable growth; on the contrary, combined with resource depletion it fosters structural change, which helps to sustain research investments. We derive the properties of the transition path, show which sectors survive in the long run, and discuss whether the economy approximates a steady state with or without a scale effect," wrote L. Bretschger and colleagues, Tilburg University.
The researchers concluded: "The results continue to hold when some sectors exhibit perfect competition."
Bretschger and colleagues published their study in the Journal of Economic Dynamics & Control (Sustainability and substitution of exhaustible natural resources How structural change affects long-term R&D-investments. Journal of Economic Dynamics & Control, 2012;36(4):536-549).
For more information, contact L. Bretschger, Tilburg University, Dept. of Econ, NL-5000 LE Tilburg, Netherlands.
Publisher contact information for the Journal of Economic Dynamics & Control is: Elsevier Science Bv, PO Box 211, 1000 Ae Amsterdam, Netherlands.
Keywords: City:Tilburg, Country:Netherlands, Region:Europe
This article was prepared by VerticalNews Economics editors from staff and other reports. Copyright 2012, VerticalNews Economics via VerticalNews.com.