2012 | OriginalPaper | Buchkapitel
Optimal Controls in Models of Economic Growth and the Environment
verfasst von : Elke Moser, Alexia Prskawetz, Gernot Tragler
Erschienen in: Large-Scale Scientific Computing
Verlag: Springer Berlin Heidelberg
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We investigate the impact of environmental quality standards on the accumulation of two types of capital (“brown” vs. “green”) and the corresponding R&D investments in an endogenous growth model. We show that environmental regulation as economic policy instrument rather represses economic growth in the long run but fosters green R&D and the accumulation of green capital in the short run. In addition we show that subsidies may support a shift to a greener production and can be used to counteract against repressed accumulation of green capital.