Abstract
What impact does ecological uncertainty have on agents' decisions concerning domestic emissions abatement, physical investments, and RD in particular, agents slow down their emissions in order to maintain a more sustainable growth path. In addition, R&D expenditures trigger the “engine of growth” exclusively when environmental technical change is formalized in an endogenous fashion. However, even if environmental uncertainty may stimulate technical change, long-run growth it turns out to be negatively affected by the former, as also predicted by Clarke and Reed (1994) Tsur and Zemel (1996) and Bosello and Moretto (1999).
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