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Natural Capital and Allocation of Investment along a Sustainable Growth Path

机译：自然资本与可持续增长道路上的投资分配

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To study natural resource and economic growth on sustainability, we present an extension of the neoclassical growth model with two new concepts:natural capital and allocation of investment. We consider that the value of the natural capital stock has declined during the production process and can be recovered from some regeneration process. The investment can be divided into two parts, which are used for the complementarity of manmade capital or natural capital.We also consider the allocation of investment affects the endogenous dynamics of ecosystems and growth path.According to our model, it is possible to achieve unbounded economic growth by keeping the natural system in steady state. Balanced growth, however, is only possible for special parameter values. Furthermore there exists the optimal allocation between the investment in the manmade capital and natural capital,which leads to the optimal economic growth speed with the sustainable development in the natural capital.
机译：为了研究自然资源和经济增长对可持续性的影响，我们提出了新古典增长模型的扩展，引入了两个新概念：自然资本和投资分配。我们认为，自然资本存量的价值在生产过程中已经下降，可以从某些再生过程中回收。投资可以分为两部分，分别用于人工资本或自然资本的补充，我们还考虑到投资分配会影响生态系统的内生动力和增长路径，根据我们的模型，有可能实现无限通过使自然系统保持稳定来实现经济增长。但是，仅特殊参数值才有可能实现均衡增长。此外，人工资本投资与自然资本之间存在最优分配关系，随着自然资本的可持续发展，导致了最优的经济增长速度。

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