Sensitive Analysis of Sustainable Economy Growth Based on Resources Consumption, Technology Progress and Human Capital

  • Zheng-xia He
Conference paper
Part of the Computational Risk Management book series (Comp. Risk Mgmt)


This paper constructs a dynamic economy growth model with the elements of resource consumption, technology progress and endogenous human capital to discuss the optimal economy growth path applying the optimized control methods. Through sensitive analysis the research demonstrates that consumer’s intertemporal substitute elasticity, human capital accumulation efficiency, and time discount rate determine the optimal economy growth path. Consumer’s intertemporal substitute elasticity, time discount rate, and factor output elasticity of product have effects on stable economy growth rate and resource consumption velocity.


Human capital Resources consumption Sensitive analysis Sustainable growth Technology progress 


  1. Aghion P, Howitt P (1998) Howitt, endogenous growth theory [M]. MIT Press, Cambridge, MA, pp 3–105Google Scholar
  2. Bovenberg A, Smulders S (1995) Environmental quality and pollution-augmenting technological change in a two-sector endogenous growth model [J]. J Public Econ 57:368–389Google Scholar
  3. Dasgupta PS, Heal G (1979) Economic theory and exhaustible resources [M]. Cambridge University Press, Cambridge, UKGoogle Scholar
  4. D’Arge RC, Kogiku KC (1973) Economic growth and the environment [J]. Rev Econ Stud 61–77Google Scholar
  5. Forster BA (1973) Optimal capital accumulation in a polluted environment [J]. Rev Econ Stud 39:544–547Google Scholar
  6. Garg PC, Sweeney JL (1978) Optimal growth and depletable resources [J]. Resour Energy 43–56Google Scholar
  7. Grimaud A, Rouge L (2003) Non-renewable resources and growth with vertical innovations: optimum, equilibrium and economic policies [J]. J Environ Econ Manage 45:433–453CrossRefGoogle Scholar
  8. Jones C (1995) R&D-based models of economic growth [J]. J Polit Econ 103:769–785CrossRefGoogle Scholar
  9. Keeler E, Spence M, Zeckhauser R (1971) The optimal control of pollution [J]. J Econ Theory 4:19–34CrossRefGoogle Scholar
  10. Romer P (1990) Endogenous technological change [J]. J Polit Econ 98:71–102CrossRefGoogle Scholar
  11. Solow R (1974) Intergenerational equity and exhaustible resources [J]. Rev Econ Stud (Symposium Issue):29–46Google Scholar
  12. Stiglitz J (1974) Growth with exhaustible natural resources: efficient and optimal growth paths [J]. Rev Econ Stud (Symposium) 41:123–137CrossRefGoogle Scholar

Copyright information

© Springer-Verlag Berlin Heidelberg 2011

Authors and Affiliations

  • Zheng-xia He
    • 1
  1. 1.School of EconomicsXuzhou Normal UniversityXuzhouPeople’s Republic of China

Personalised recommendations