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英文文献：Conservation Capital And Sustainable Economic Growth-保护资本和可持续经济增长
英文文献作者：Ramirez, Donna Theresa J.,Khanna, Madhu,Zilberman, David
英文文献摘要：
This paper develops an endogenous growth model which links pollution to ineffective input-use, which can be reduced through conservation capital investment. It derives the conditions under which individual preferences for environmental quality and private investment in conservation capital can lead to non-decreasing environmental quality and balanced growth in an unregulated and in a regulated regime. In the absence of regulation, balanced growth can lead to improvement in environmental quality as long as the rate of growth is low. The extent to which the growth rate is low depends upon preference for environmental quality, interest and discount rates, productivity of conservation capital, and price of the polluting input. Under an emissions tax regime, sustainable balanced growth requires the interest rate to lie between the amenity value derived by consumers from environmental improvement and the marginal return to the firm due to the regenerative capacity of the environment. This implies that interest rate must be high enough to encourage consumers to forego consumption but low enough to constrain the productivity of conservation capital and restrain usage of the polluting input. The emissions tax is also shown to be equivalent to a pollution permit system or to a two-instrument scheme composed of a tax on polluting input and a subsidy on conservation capital investment.
本文建立了一个将污染与无效投入相联系的内生增长模型，通过节约资本投资来减少无效投入。它得出的条件是，在这种条件下，个人对环境质量的偏好和对养护资本的私人投资能够在不受管制和受管制的制度下导致不降低环境质量和平衡增长。在缺乏管制的情况下，只要增长率低，平衡的增长就可以导致环境质量的改善。增长率低的程度取决于对环境质量的偏好、利率和贴现率、养护资本的生产率和污染投入的价格。在排放税制度下，可持续平衡增长要求利率介于消费者从环境改善中获得的舒适价值和企业因环境的再生能力而获得的边际回报之间。这意味着利率必须高到足以鼓励消费者放弃消费，但又要低到足以限制保存资本的生产力和限制污染投入的使用。排放税也显示相当于污染许可证制度或两项文书计划，包括对污染投入征税和对保护资本投资提供补贴。
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