Transcription of The Environmental Kuznets Curve
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The Environmental Kuznets Curve
International Society for Ecological EconomicsInternet Encyclopaedia of Ecological EconomicsThe Environmental Kuznets CurveDavid I. SternDepartment of Economics, Rensselaer Polytechnic Institute, Troy, NY 12180,USAJune Environmental Kuznets Curve is a hypothesized relationship between variousindicators of Environmental degradation and income per capita. In the earlystages of economic growth degradation and pollution increase, but beyond somelevel of income per capita (which will vary for different indicators) the trendreverses, so that at high-income levels economic growth leads to environmentalimprovement. This implies that the Environmental impact indicator is an invertedU-shaped function of income per capita. Typically the logarithm of the indicator ismodeled as a quadratic function of the logarithm of income. An example of anestimated EKC is shown in Figure 1. The EKC is named for Kuznets (1955) whohypothesized income inequality first rises and then falls as economicdevelopment EKC is an essentially empirical phenomenon, but most of the EKCliterature is econometrically weak.
International Society for Ecological Economics Internet Encyclopaedia of Ecological Economics The Environmental Kuznets Curve David I. Stern Department of Economics, Rensselaer Polytechnic Institute, Troy, NY 12180,
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