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The book focuses on the sustainability of economic growth in a changing environment, under the effects of global warming, dwindling energy resources, and technological change. It also provides explanations for significant fluctuations in countries' growth rates. The results are derived from historical evidence on economic growth in relation to environmental policy, technological change, development of transport infrastructure, population issues, and environmental mortality. The rigorous analysis of theoretical and applied aspects reveals important policy implications for optimal investment, optimal timing of abatement activities, and for an optimal balancing of economic growth with environmental concerns.
Economics/Management Science. --- Economic Theory. --- Economic Growth. --- Environmental Economics. --- Systems Theory, Control. --- Game Theory, Economics, Social and Behav. Sciences. --- Public Finance & Economics. --- Economics. --- Mathematics. --- Systems theory. --- Endogenous growth (Economics). --- Finance. --- Environmental economics. --- Economie politique --- Mathématiques --- Croissance endogène (Economie politique) --- Finances --- Economie de l'environnement --- Economic development --- Environmental economics --- Environmental policy --- Econometric models --- Mathematical models --- Environmental aspects --- Economic aspects --- Economic development - Econometric models --- Environmental economics - Mathematical models --- Economic development - Environmental aspects --- Environmental policy - Economic aspects
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This paper explores the impact of high public debt on long-run economic growth. The analysis, based on a panel of advanced and emerging economies over almost four decades, takes into account a broad range of determinants of growth as well as various estimation issues including reverse causality and endogeneity. In addition, threshold effects, nonlinearities, and differences between advanced and emerging market economies are examined. The empirical results suggest an inverse relationship between initial debt and subsequent growth, controlling for other determinants of growth: on average, a 10 percentage point increase in the initial debt-to-GDP ratio is associated with a slowdown in annual real per capita GDP growth of around 0.2 percentage points per year, with the impact being somewhat smaller in advanced economies. There is some evidence of nonlinearity with higher levels of initial debt having a proportionately larger negative effect on subsequent growth. Analysis of the components of growth suggests that the adverse effect largely reflects a slowdown in labor productivity growth mainly due to reduced investment and slower growth of capital stock.
Debts, Public--Econometric models. --- Economic development--Econometric models. --- Econometrics --- Public Finance --- Production and Operations Management --- Debt --- Debt Management --- Sovereign Debt --- National Government Expenditures and Related Policies: General --- Production --- Cost --- Capital and Total Factor Productivity --- Capacity --- Estimation --- Public finance & taxation --- Macroeconomics --- Econometrics & economic statistics --- Public debt --- Public expenditure review --- Government debt management --- Total factor productivity --- Estimation techniques --- Debts, Public --- Expenditures, Public --- Industrial productivity --- Econometric models --- United States --- Debts, Public. --- Economic development --- Econometric models.
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The book focuses on the sustainability of economic growth in a changing environment, under the effects of global warming, dwindling energy resources, and technological change. It also provides explanations for significant fluctuations in countries’ growth rates. The results are derived from historical evidence on economic growth in relation to environmental policy, technological change, development of transport infrastructure, population issues, and environmental mortality. The rigorous analysis of theoretical and applied aspects reveals important policy implications for optimal investment, optimal timing of abatement activities, and for an optimal balancing of economic growth with environmental concerns.
Economic development -- Econometric models. --- Economic development -- Environmental aspects. --- Environmental economics -- Mathematical models. --- Environmental policy -- Economic aspects. --- Economic development --- Environmental economics --- Environmental policy --- Economic Theory --- Business & Economics --- Econometric models --- Mathematical models --- Environmental aspects --- Economic aspects --- Sustainable development --- Dynamics --- Energy policy. --- Energy and state. --- System theory. --- Economic theory. --- Economic growth. --- Economics. --- Environmental economics. --- Economic Growth. --- Environmental Economics. --- Economic Systems. --- Economic Theory/Quantitative Economics/Mathematical Methods. --- Systems Theory, Control. --- Energy Policy, Economics and Management. --- Systems theory. --- Political Economy/Economic Systems. --- Economic theory --- Political economy --- Social sciences --- Economic man --- Economics --- Environmental quality --- Development, Economic --- Economic growth --- Growth, Economic --- Economic policy --- Statics and dynamics (Social sciences) --- Development economics --- Resource curse --- Economic policy. --- Energy and state --- Power resources --- State and energy --- Industrial policy --- Energy conservation --- Systems, Theory of --- Systems science --- Science --- Economic nationalism --- Economic planning --- National planning --- State planning --- Planning --- National security --- Social policy --- Government policy --- Philosophy
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