The role of R&D with a continuum of technologies and environmental degradation: An optimal control approach

Bondarev A, Greiner A (2013) Working Papers in Economics and Management; 20-2013.
Bielefeld: Bielefeld University, Department of Business Administration and Economics.

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Abstract
In this paper we develop an economic growth model that includes anthropogenic climate change. We explicitly include a research sector that creates new technologies and simultaneously expands productivities of existing technologies. The environment is affected by R&D activities both negatively, through increase of output from productivity growth, as well as positively, as new technologies are less harmful for the environment. We consider three different versions of the model. In the first version, there are no constraints with respect to research spending, while the R&D sector affects the rest of the economy. In this version, the environmental damages are lower than in the model with simple exogenous technical change. Next, we consider the research dynamics with a constant R&D budget set by the agent. We find that there exist two different steady states of this economy, one with higher productivities and less new technologies being developed, and the other with more technologies being created. In the last version, finally, we allow for dynamic R&D spending. For this version, it is demonstrated that sustained economic growth with preservation of the environment is possible given certain conditions as regards the technology and R&D spending.
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Bondarev A, Greiner A. The role of R&D with a continuum of technologies and environmental degradation: An optimal control approach. Working Papers in Economics and Management. Vol 20-2013. Bielefeld: Bielefeld University, Department of Business Administration and Economics; 2013.
Bondarev, A., & Greiner, A. (2013). The role of R&D with a continuum of technologies and environmental degradation: An optimal control approach (Working Papers in Economics and Management, 20-2013). Bielefeld: Bielefeld University, Department of Business Administration and Economics. doi:10.4119/unibi/2915430
Bondarev, A., and Greiner, A. (2013). The role of R&D with a continuum of technologies and environmental degradation: An optimal control approach. Working Papers in Economics and Management, 20-2013, Bielefeld: Bielefeld University, Department of Business Administration and Economics.
Bondarev, A., & Greiner, A., 2013. The role of R&D with a continuum of technologies and environmental degradation: An optimal control approach, Working Papers in Economics and Management, no.20-2013, Bielefeld: Bielefeld University, Department of Business Administration and Economics.
A. Bondarev and A. Greiner, The role of R&D with a continuum of technologies and environmental degradation: An optimal control approach, Working Papers in Economics and Management, vol. 20-2013, Bielefeld: Bielefeld University, Department of Business Administration and Economics, 2013.
Bondarev, A., Greiner, A.: The role of R&D with a continuum of technologies and environmental degradation: An optimal control approach. Working Papers in Economics and Management, 20-2013. Bielefeld University, Department of Business Administration and Economics, Bielefeld (2013).
Bondarev, Anton, and Greiner, Alfred. The role of R&D with a continuum of technologies and environmental degradation: An optimal control approach. Bielefeld: Bielefeld University, Department of Business Administration and Economics, 2013. Working Papers in Economics and Management. 20-2013.
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