Economic growth with land factors in New-Classical Theory
Wanli Yang
Abstract
Wanli Yang
Abstract
In this paper an economic growth model with land factors is set up on the basis of New-Classical Growth Theory.By introducing the concepts of land application technology and output-land elasticity,the relationship between land factors and long-term economic growth is revealed.It is showed that the increase of land application technology is helpful to prompt economic growth.Furthermore,economic structure has important influences on economic growth rate,and the economic growth rate is in reverse to the land dependency ratio of the economy.
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In this paper an economic growth model with land factors is set up on the basis of New-Classical Growth Theory.By introducing the concepts of land application technology and output-land elasticity,the relationship between land factors and long-term economic growth is revealed.It is showed that the increase of land application technology is helpful to prompt economic growth.Furthermore,economic structure has important influences on economic growth rate,and the economic growth rate is in reverse to the land dependency ratio of the economy.
Key concepts: Growth theory, Economics, Dependency (UML), Natural resource economics, Economic system, Growth model, Economic geography, Macroeconomics