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| Author: | López, R. E. Anríquez, G. Gulati, S. |
| Title: | Structural change and sustainable development |
| Journal: | Journal of Environmental Economics and Management
2007 : VOL. 53:3, p.307-322 |
| Index terms: | sustainable development structural change natural resources |
| Freeterms: | endogenous growth |
| Language: | eng |
| Abstract: | This paper shows that the commonly observed decline in primary sector output and employment shares, often termed structural change, can be explained as an endogenous response to the presence of nature's constraint. Structural change takes place even if consumer preferences are homothetic, and technological progress does not discriminate against the primary sector. Under certain conditions, structural change allows an open economy to grow with natural resource sustainability. It is shown that there is no unique relationship between natural resource endowment and the rate of economic growth over the long run. Resource-rich economies may grow faster or slower than resource-poor ones. |
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