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On the Theory of Optimal Regional Development Based on an Exhaustible Resource
Author(s) -
HOWE CHARLES W.
Publication year - 1987
Publication title -
growth and change
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.657
H-Index - 55
eISSN - 1468-2257
pISSN - 0017-4815
DOI - 10.1111/j.1468-2257.1987.tb00455.x
Subject(s) - non renewable resource , investment (military) , resource (disambiguation) , population growth , natural resource economics , population , economics , environmental economics , computer science , ecology , renewable energy , biology , computer network , demography , sociology , politics , political science , law
ABSTRACT Extensive literatures exist on both regional development and the optimum use of nonrenewable resources over time, but the two have not been melded to consider the effect of combining the optimization of resource exploitation with optimization of population growth and infrastructure investment. A model incorporating these dimensions of regional growth is analyzed using control theory to characterize the optimal time paths of the source‐related investment, resource use, and infrastructure investment. An example of nonrenewable groundwater use in the Colorado High Plains region is analyzed to show the shortcomings of existing regulatory schemes.