G2TT
来源类型FEEM working papers "Note di lavoro" series
规范类型论文
China’s Pursuit of Environmentally Sustainable Development: Harnessing the New Engine of Technological Innovation
Wei Jin; ZhongXiang Zhang
发表日期2016
出处Climate Change: Economic Impacts and Adaptation
出版年2016
语种英语
摘要Whether China continues its business-as-usual investment-driven, environment-polluting growth pattern or adopts an investment and innovation-driven, environmentally sustainable development holds important implications for both national and global environmental governance. Building on a Ramsey-Cass-Koopmans growth model that features endogenous technological change induced by R&D and knowledge stock accumulation, this paper presents an exposition, both analytically and numerically, of the mechanism underlining China’s economic transition from an investment-driven, pollution-intensive to an investment and innovation-driven, environmentally sustainable growth path. We show that if R&D technological innovation is incorporated into China’s growth mechanism, then at some tipping point in time when marginal welfare gain of R&D for knowledge accumulation becomes equalized with that of investment for physical asset deployment, China’s economy will launch capital investment and R&D simultaneously and make a transition to a sustainable growth path along which consumption, capital investment, and R&D have a balanced share of 5: 4: 1, consumption, capital stock, and knowledge stock all grow at a rate of 4.9%, and environmental quality improves at a rate of 2.5%. In contrast, if R&D technological innovation is not harnessed as a new growth engine, then China’s economy will follow its business-as-usual investment-driven growth path along which standalone accumulation of dirty physical capital stock will lead to an more than 200-fold increase in environmental pollution. *** Suggested citation: Jin, W., Z. Zhang, (2016), 'China’s Pursuit of Environmentally Sustainable Development: Harnessing the New Engine of Technological Innovation', Nota di Lavoro 24.2016, Milan, Italy: Fondazione Eni Enrico Mattei
特色分类Q55;Q58;Q43;Q48;O13;O31;O33;O44;F18
关键词Endogenous Technological Change Sustainable Development Economic Growth Model China's Economic Transition
URLhttps://www.feem.it/en/publications/feem-working-papers-note-di-lavoro-series/china-s-pursuit-of-environmentally-sustainable-development-harnessing-the-new-engine-of-technological-innovation/
来源智库Fondazione Eni Enrico Mattei (Italy)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/118472
推荐引用方式
GB/T 7714
Wei Jin,ZhongXiang Zhang. China’s Pursuit of Environmentally Sustainable Development: Harnessing the New Engine of Technological Innovation. 2016.
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