On the impossibility of sustainable growth in a manufacturing based economy. Yoon, S. W. & Yoon, C. Economic Research-Ekonomska Istraživanja, 31(1):1526–1538, January, 2018. Citation Key Alias: ISI:000452031100001, lens.org/075-157-855-078-986 tex.eissn: [object Object] tex.unique-id: [object Object]
On the impossibility of sustainable growth in a manufacturing based economy [link]Paper  doi  abstract   bibtex   
This paper investigates a possibility of sustainable growth in a multi-output endogenous growth framework where the capital accumulation takes place mainly through the production of the dirty manufactured goods. It is shown that in a closed economy, economic growth is not environmentally sustainable, even under an optimal pollution tax unless the consumption elasticity of substitution between clean and dirty goods approaches infinity as in a small open economy which exports dirty goods. There exists a minimal threshold level of the ratio of clean to dirty capital that ensures sustainable growth in a closed economy.
@article{yoon_impossibility_2018,
	title = {On the impossibility of sustainable growth in a manufacturing based economy},
	volume = {31},
	issn = {1331-677X, 1848-9664},
	url = {https://www.tandfonline.com/doi/full/10.1080/1331677X.2018.1498008},
	doi = {10.1080/1331677X.2018.1498008},
	abstract = {This paper investigates a possibility of sustainable growth in a multi-output endogenous growth framework where the capital accumulation takes place mainly through the production of the dirty manufactured goods. It is shown that in a closed economy, economic growth is not environmentally sustainable, even under an optimal pollution tax unless the consumption elasticity of substitution between clean and dirty goods approaches infinity as in a small open economy which exports dirty goods. There exists a minimal threshold level of the ratio of clean to dirty capital that ensures sustainable growth in a closed economy.},
	language = {en},
	number = {1},
	urldate = {2019-10-08},
	journal = {Economic Research-Ekonomska Istraživanja},
	author = {Yoon, Sang Won and Yoon, Chang-Ho},
	month = jan,
	year = {2018},
	note = {Citation Key Alias: ISI:000452031100001, lens.org/075-157-855-078-986
tex.eissn: [object Object]
tex.unique-id: [object Object]},
	keywords = {dept.eco},
	pages = {1526--1538}
}
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