ENVIRONMENTAL PROTECTION AND ECONOMIC GROWTH
Palavras-chave:AK growth model, Environmental Kuznets curve, Hopfbifurcation theorem, Limit cycles
ResumoThis paper explores the link between environmental policy and
economic growth by employing an extension of the AK Growth Model. We
include a state equation for renewable natural resources. We
assume that the change in environmental regulations induces
costs and that economic agents also derive some utility from
capital stock accumulation vis-a-vis the environment.
Using the Hopf bifurcation theorem, we show that cyclical
environmental policy strategies are optimal, providing
theoretical support for the Environmental Kuznets Curve.
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Teles, V. K., & Arraes, R. (2019). ENVIRONMENTAL PROTECTION AND ECONOMIC GROWTH. Análise Econômica, 37(73). https://doi.org/10.22456/2176-5456.49287