Endogenous growth and property rights over renewable resources

Nujin Suphaphiphat, Pietro Peretto, Simone Valente

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7 Citations (Scopus)
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We study how different regimes of access rights to renewable natural resources - namely, open access versus full property rights – affect sustainability, growth and welfare in the context of modern endogenous growth theory. Resource exhaustion may occur under both regimes but is more likely to arise under open access. Moreover, under full property rights, positive resource rents increase expenditures on manufacturing goods and temporarily accelerate productivity growth, but also yield a higher resource price at least in the short-to-medium run. We characterize analytically and quantitatively the model’s dynamics to assess the welfare implications of differences in property rights enforcement.
Original languageEnglish
Pages (from-to)125–151
Number of pages27
JournalEuropean Economic Review
Early online date26 Feb 2015
Publication statusPublished - May 2015


  • Endogenous growth
  • Innovation
  • Property Rights
  • Sustainable Development
  • Renewable Resources

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