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Renewable Resources, Capital Accumulation, and Economic Growth

100%
Zhang W.-B.
Business Systems Research Journal
|
2011
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vol. 2
|
issue 1
24-35
EN
This paper proposes a dynamic economic model with physical capital and renewable resources. Different from most of the neoclassical growth models with renewable resources which are based on microeconomic foundation and neglect physical capital accumulation, this study proposes a growth model with dynamics of renewable resources and physical capital accumulation. The model is a synthesis of the neoclassical growth theory and the traditional dynamic models of renewable resources with an alternative approach to household behavior. The model describes a dynamic interdependence among physical accumulation, resource change, and division of labor under perfect competition. Because of its refined economic structure, our study enables some interactions among economic variables which are not found in the existing literature on economic growth with renewable resources. We simulate the model to demonstrate the existence of equilibrium points and motion of the dynamic system. Our comparative dynamic analysis shows, for instance, that a rise in the propensity to consume the renewable resource increases the interest rate and reduces the national and production sector's capital stocks, wage rate and level of the consumption good. Moreover, it initially reduces and then increases the capital stocks of the resource sector and the consumption and price of the renewable resource. The stock of the renewable resource is initially increased and then reduced. Finally, labor is redistributed from the production to the resource sector.
2
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Contribution to the Formulation of Economically Effcient Subsidy Policy in the Area of Small Hydro Power Plants

63%
Simona H., Ivo C., Pavel K.
Littera Scripta
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2014
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vol. 1
25-38
EN
This paper analyzes the economic aspects of subsidy policy in the area of small hydro power plants. It confronts the current practice with the theory and proposes an economically effective solution. It is the first of a series of contributions devoted to providing subsidies to producers of renewable energy to which, among others, belong running water, biofuels, wind and solar radiation. It is based on the results of three case studies dealing with the analysis of the economic effciency of small hydro power plants, which are solved by the "case-based reasoning" approach. The first two studies relate to the already completed and operating hydro power plants on the rivers Sázava and Litavka in the Czech Republic. Their parameters and other required data are accessible at http://www.eis.cz. The third analyzed project is in the planning stage and has not yet been implemented or subsidized. Calculations are based on budgeted data and are used for demonstration and illustration of the proposed criteria of the effective economic subsidy policy.
3
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Managing renewable energy resources choosing the sustainable development projects in Eastern Serbia – MCDM methods

63%
ILIĆ B., MANIĆ A., MIHAJLOVIĆ D.
Progress in Economic Sciences
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2017
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vol. 4
223-238
EN
The modern world is faced with the need of global, common responsibility for development in accordance with the needs of people and nature. Great potential for development of both economic and protection of natural values lies in using up renewable energy resources. Serbia is the country rich in renewable natural resources, which are not used enough. The focus of this paper is the ranking of sustainable development projects in Eastern Serbia, the city of Zajecar, the resort of Gamzigrad spa and its thermo-mineral wells. Development projects are ranked by application of the ELECTRE method and by application of the AHP method, as an ancillary method to determine the weights of criteria. Both of the methods are in the field of Multiple-Criteria Decision Making. The ELECTRE method I is often used for determining partial orders of alternatives. This way of ranking projects is contributing to sustainable development and sustainable management of natural resources in Serbia. Sustainable management of natural resources contributes to raising the quality of life of the citizens of Serbia, and in the Eastern region of the country.
PL
Współczesny świat staje przed potrzebą globalnej, wspólnej odpowiedzialności za rozwój zgodnie z potrzebami ludzi i środowiska. Korzystanie ze źródeł energii odnawialnej stwarza duży potencjał rozwoju w zakresie ekonomii oraz ochrony wartości naturalnych. Serbia jest krajem bogatym w odnawialne zasoby naturalne, które nie są wykorzystywane w wystarczający sposób. Praca ta skupia się na uszeregowaniu projektów zrównoważonego rozwoju we wschodniej Serbii, mieście Zajecar, resorcie spa Gamzigrad i jego studni termalno-mineralnych. Projekty rozwoju są uszeregowane poprzez zastosowanie metody ELECTRE oraz metody AHP, jako metody wspomagającej w celu określenia wagi kryteriów. Obie te metody stosowane są w obszarze podejmowania decyzji na podstawie wielu kryteriów (ang. Multiple-Criteria Decision Making). Metoda ELECTRE I jest często stosowana do określania częściowego uszeregowania alternatyw. Ten sposób szeregowania projektów przyczynia się do zrównoważonego rozwoju i zrównoważonego zarządzania zasobami naturalnymi w Serbii. Zrównoważone zarządzanie zasobami naturalnymi przyczynia się do podnoszenia jakości życia mieszkańców Serbii oraz wschodniego regionu kraju.
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