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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Sub-type Working paper Author Azomahou, Théophile T.
Mishra, TapasTitle 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 growthJEL C13
J11
O47Copyright Holder UNU-MERIT Copyright Year 2009 Copyright type All rights reserved ISSN 18719872 -
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