Can Capital-Energy Substitution Foster Economic Growth?

被引：5
|
作者：
Lazkano, Itziar [1 ]
Linh Pham [1 ]
机构：
[1] Univ Wisconsin, Dept Econ, Milwaukee, WI 53201 USA
来源：
LAND ECONOMICS | 2016年 / 92卷 / 03期
关键词：
TECHNICAL CHANGE; VARIABLE ELASTICITY; FACTOR DEMAND; SUBSTITUTABILITY; COMPLEMENTARITY; COUNTRIES; SECTOR; INPUTS; MODEL; LABOR;
D O I：
10.3368/le.92.3.491
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We study the ease of substitution between energy and other production inputs over time. We first develop a growth model with energy where our general production function allows for a nonconstant elasticity of substitution. Theoretical results show that the ease of substitution between capital and energy increases over time with the energy-capital ratio. Next, using country-level data from 108 countries between 1971 and 2011, we provide empirical evidence for a nonconstant elasticity of substitution between capital and energy. Our results imply that policies that increase the speed of the capital-energy substitution can foster long-run economic growth.
引用
收藏
页码：491 / 514
页数：24
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