The Impact of Sustainable Development Technology on a Small Economy—The Case of Energy-Saving Technology
1
School of Finance, Wenzhou Business College, Wenzhou 325035, Zhejiang, China
2
College of Economics & Management, Southwest University, Chongqing 400715, China
3
School of International Economics and Trade, Shanghai Lixin University of Accounting and Finance, Shanghai 201620, China
*
Author to whom correspondence should be addressed.
Int. J. Environ. Res. Public Health 2018, 15(2), 295; https://doi.org/10.3390/ijerph15020295
Received: 13 December 2017 / Revised: 1 February 2018 / Accepted: 5 February 2018 / Published: 8 February 2018
(This article belongs to the Special Issue Decision Models in Green Growth and Sustainable Development)
We investigated the impact of a sustainable development technology on the macroeconomic variables in a small economy utilizing a case study with a stochastically improving energy saving technology and a stochastically increasing energy price. The results show the technological displacement effects of energy saving technology are stronger, but there are more ambiguous instantaneous returns to physical capital. However, the energy saving technology’s displacement effects might not affect the conditions under which the Harberger-Laursen-Metzler (HLM) effect holds. The effects of rising energy prices on bonds are stronger, and there are more ambiguous instantaneous returns, but the conditions under which the HLM effect holds are different.
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Keywords:
sustainable development technology; energy saving technology; macroeconomic variables in a small economy; stochastic analysis
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MDPI and ACS Style
Chen, X.; Huang, Q.; Huang, W.; Li, X. The Impact of Sustainable Development Technology on a Small Economy—The Case of Energy-Saving Technology. Int. J. Environ. Res. Public Health 2018, 15, 295.
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