This paper discusses the relationship between industrial development and environmental protection. The paper argues that human beings cannot solve the problems linked to the environment and the natural resources in a stagnant manner, nor can human beings achieve sustainable development in the...

This paper presents a two-sector green endogenous growth model to explore a mechanism that explains why carbon-intensive capital is not necessarily shut down during transition to a green economy. Without accumulating clean capital to offset carbon emissions, a tightening of climate regulation...