Sustainable economy growth model based on pollution control, technological change and human capital accumulation

This paper constructs a dynamic economy growth model with the elements of resource consumption and pollution control to discuss the optimal economy growth path applying the optimal control methods. The research demonstrates that consumerpsilas intertemporal substitute elasticity should be between 0 and 1, and human capital accumulation efficiency should be more than time discount rate is sine qua non of the optimal economy growth path. Consumerpsilas intertemporal substitute elasticity, time discount rate, factor output elasticity of product and technology, pollution output elasticity, and pollution control elasticity have effects on stable economy growth rate and pollution velocity. These mean that the government should improve efficiency of environmental of regulation and human capital accumulation, improve factor input efficiency of product and technology, improve clean production capacity, and lead rational consumption to enhance sustainable development awareness.