Dynamics of natural capital in neoclassical growth model

Kornafel, Marta; Telega, Ivan

doi:10.1504/ijse.2020.107862

Cited by 5 publications

(3 citation statements)

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“…Equation ( 6) illustrates the growth rate of the stock of natural resources, where m stands for the rate of resource regeneration, CC for the carrying capacity of the environment, CT for the extraction threshold, W for the investment in restoring degraded resources, and F for the quantity of resources that can be utilized for economic activity. The long-term feasibility of achieving equilibrium with the stock of natural resources is demonstrated by the dynamics of natural capital (Kornafel & Telega, 2020). The topic of environmental sustainability is covered in this aspect.…”

Section: Theoretical Frameworkmentioning

confidence: 99%

The Threshold level of Institutional Quality in the Nexus between Financial Development and Environmental Sustainability in Nigeria

Oje

2024

JESCAE

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Empirics on the relationship between financial development and environmental sustainability remain ambiguous in the literature. The threshold level at which institutional quality facilitates the relationship between financial development and environmental sustainability in respect to the Nigerian economy is still an open question. This study investigates the threshold level of institutional quality in the link between financial development and environmental sustainability in Nigeria from 1986 to 2020. Times series threshold autoregression technique was applied to determine the threshold level of institutional quality. The result of the threshold revealed that 4.32 is the threshold level of institutional quality in Nigeria. Below the threshold level financial development is not stimulated to improve environmental sustainability but above the threshold level institutional quality stimulates financial development to improve environmental sustainability. This study suggests that institutional credibility and transparency should be enhanced beyond the threshold level to effect the needed change in increasing environmental preservation in Nigeria.

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Section: Theoretical Frameworkmentioning

confidence: 99%

The Threshold level of Institutional Quality in the Nexus between Financial Development and Environmental Sustainability in Nigeria

Oje

2024

JESCAE

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“…The theoretical background of the CE has been slightly studied in the last few years (George et al, 2015;Ghisellini et al, 2016;Korhonen et al, 2018b), relating CE with economic growth theories, based on CE aims to create sustainable growth. Several authors affirm that CE operates around the neoclassical exogenous growth theory (Ghisellini et al, 2016;Bimpizas-Pinis et al, 2021;Donaghy, 2022), but this theory does not consider the limitation of natural resources availability as a constraint (Meadows et al, 1972;Kornafel and Telega, 2020), which is one of the main ideas underlying the concept of the CE. This limitation (Ghisellini et al, 2016) is contemplated in the steady-state economy theory (Daly, 1977), which aligns it with the CE philosophy.…”

Section: Theoretical Frameworkmentioning

confidence: 99%

Nuts and bolts of tropical tuna purse seine nets recycling: A circular business model

Andrés¹,

Zudaire²,

Larreta³

et al. 2022

Front. Sustain.

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Tropical tuna purse seiners are one of the most important contributors to end-of-life (EoL) fishing gears in the world, and these fishing nets can become a promising secondary raw material. Thus, tuna companies are looking for possibilities to valorize them by applying circular economy (CE). This contribution aims at assessing the viability of creating a circular business model out of recycled tropical tuna purse seine EoL nets. The yearly contribution of the Spanish tuna freezer purse seine companies to EoL fishing nets was estimated at 900 tons. Three pilot projects were implemented (involving 80 tons of EoL tuna nets) to learn about the monetary and material flows, supply chain, stakeholders' perception, and the environmental impacts of upcycling polyamide nets into four marketable products (i.e., conditioned fishing nets, backpacks, fishers' dungarees, and sunglasses). The results indicate that recycled regrinds/flakes and pellets were 37 and 50%, respectively, more expensive than virgin counterparts, but the yarn may achieve competitive production costs in the textile industry, with an additional environmental benefit close to 69% per kg of virgin–origin yarn. The challenges faced when recycling EoL polyamide fishing nets were discussed. Innovation and logistics appear to play a fundamental role in making the business sustainable. Besides, the circular business model methodology to assess the value proposition was also discussed in its empirical application.

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“…On this note, Pearce (1988) equates the attainment of sustainable development to ensuring 'constancy of natural capital stock'. This implies maintenance of natural capital at the level at which humanity meets it by never allowing it to depreciate (Solow, 1974;Kornafel and Telega, 2020). Elaborating on the constancy of natural of natural capital, Costanza and Daly (1992; p.7) note that "A minimum necessary condition for sustainability is the maintenance of the total natural capital stock at or above the current level.…”

Section: Theoretical Framework: the Natural Capital Theory (Nct)mentioning

confidence: 99%

On the pursuit of energy security: evidence from the nexus between clean energy stock price and energy security elements

Hassan¹,

Ibrahim

Bala³

2021

International Journal of Sustainable Energy

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Concerns for fossil fuel price volatility, environmental pollution and energy inefficiency drive the formulation of energy policies aimed at attaining energy security. We use a theoretical framework which integrates key elements of energy security into the context of natural capital theory to investigate the causal relationship between Nasdaq clean energy stock price and a range of variables including oil price, natural gas prices, carbon price and energy efficiency. Our ARDL results reveal that clean energy stock price is jointly and individually explained by the variables representing some elements of energy security. Carbon price and energy efficiency emerged as the most important elements of energy security driving the on-going transition from conventional to clean energy sources. Consequently, governments should take environmental sustainability and energy efficiency very seriously when formulating energy policies in the pursuit of energy security and the way they stimulate substitutions between clean energy sources and hydrocarbons.

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Dynamics of natural capital in neoclassical growth model

Cited by 5 publications

References 0 publications

The Threshold level of Institutional Quality in the Nexus between Financial Development and Environmental Sustainability in Nigeria

The Threshold level of Institutional Quality in the Nexus between Financial Development and Environmental Sustainability in Nigeria

Nuts and bolts of tropical tuna purse seine nets recycling: A circular business model

On the pursuit of energy security: evidence from the nexus between clean energy stock price and energy security elements

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