This study attempts to assess and compare the extent of negative externalities in three income groups of countries: high, middle and low, and also India. It also aims at analyzing the relationship between negative externalities and growth of Gross National Income (GNI) in India. The study finds...

We develop two models of economic growth with exhaustible natural resources and consumers heterogeneous in time preferences. The first model assumes private ownership of natural resources. In the second model, natural resources are commonly owned and the resource extraction rate is chosen by...