Stochastic environmental effects, demographic variation, and economic growth

Azomahou, Théophile T. and Mishra, Tapas (2009). Stochastic environmental effects, demographic variation, and economic growth. UNU-MERIT.

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UNU-MERIT Working Papers

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  • Sub-type Working paper
    Author Azomahou, Théophile T.
    Mishra, Tapas
    Title Stochastic environmental effects, demographic variation, and economic growth
    Publication Date 2009
    Place of Publication Maastricht, NL
    Publisher UNU-MERIT
    Pages 44
    Abstract We consider a stochastic environment to study interactions among pollution growth, demographic changes, and economic growth. Drawing on the empirical findings of slow convergence patterns of pollution shocks (viz., with a long-memory), we build an analytical framework where stochastic environmental feedback effects on population changes are reflected upon aggregate economic growth. Long-memory in economic growth, in our model, is shown to arise due to the inherent stochasticity in environmental and demographic system. Empirical results for a set of developed and developing countries generally support our conjecture. Simulation experiment is carried out to lend additional support to this claim.
    Keyword Environmental quality
    Long-memory
    Demographic dynamics
    Economic growth
    JEL C13
    J11
    O47
    Copyright Holder UNU-MERIT
    Copyright Year 2009
    Copyright type All rights reserved
    ISSN 18719872
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