Energy Research and Endogenous Growth

Hui Zuo; Dan Xiang Ai

doi:10.4028/www.scientific.net/AMR.347-353.2907

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HomeAdvanced Materials ResearchAdvanced Materials Research Vols. 347-353Energy Research and Endogenous Growth

Energy Research and Endogenous Growth

Abstract:

Technology progress is essential to keeping energy supply uninterruptable and maintaining sustainable economic growth. In this paper, we develop an endogenous growth model with energy research and make analysis of the relationship between energy research and economic growth by means of dynamic optimization. We find that the long run economic growth rate is related to the intensity of energy research work and a greater intensity of energy research activity will result in a higher increasing rate of energy supply sources. We also find energy research has special effects on labor force redistribution. Investment in the energy research sector will break free from decreasing marginal return of energy production and will eventually help economy step into sustainable growth.

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Periodical:

Advanced Materials Research (Volumes 347-353)

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2907-2912

DOI:

https://doi.org/10.4028/www.scientific.net/AMR.347-353.2907

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Online since:

October 2011

Authors:

Hui Zuo, Dan Xiang Ai

Keywords:

Dynamic optimization, Endogenous Growth, Energy Research, Source of Supply, Technology Progress

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