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In this important book some of the world's leading scholars in environmental economics explore the theoretical and empirical problems to be solved if policymakers are to develop accounts to capture the sustainability of economic development. The development indicators that have been used over the last half century and more, GDP and GNP, fail to record the change in the value of a nation's natural or environmental capital. The contributions to this volume consider why this is so, and what is required of genuine sustainability measures. They include both theoretical papers on the identification of sustainability measures in optimising and non-optimising economies, and empirical applications of the theory of green accounting to different sectors in developing countries. The extensive introduction surveys the state-of-the-art on natural resource accounting for economic development. The book makes a substantial contribution to the development of an important field of environmental economics. It should be read by all environment and development economists, and policymakers with a particular interest in natural resource accounting, sustainability and development.
There has been a lot of discussion among policymakers, particularly within the Clinton Administration, about how to make U.S. economic indicators, such as GNP, more accurately reflect the state of the environment. This book explores the major issues and controversies involved in incorporating natural resources and the environment into economic accounts. The first section of the volume, based largely on a three-day workshop of experts in the field, explains the possibilities and pitfalls in so-called "green" accounting. This is followed by a selection of nine individually authored papers, including one by Nobel prize winner Robert Solow, that probe scientific aspects of this issues in greater depth.
In recent years, analysts, researchers and environmental policy makers have been faced with a serious shortage of empirical data on environmental phenomena. In fact, the information gathered by various organisations has not yet been systematically classified into a consistent system of accounts. This book presents the results of a joint research effort by the Fondazione Eni Enrico Mattei and Italy's Central Statistical Office (ISTAT) to design a system of accounts for natural and environmental resources. The resulting environmental accounts can be integrated with the existing system of national accounts, in order to estimate the so-called `green GDP' or `net national product' (NNP).
This book presents national environmental, or 'green' accounting as it has developed in Europe and other parts of the world. It introduces the most recent methods developed through the United Nations Statistical Department and other international organizations, but bridges the gap between the superficial treatment of environmental accounting in economics textbooks and environmental literature, on the one hand, and the highly technical manuals of international organizations, on the other. Joy Hecht begins with a history and introduction to national income accounting. The first part of her book explains how the environmental accounts build on the structure of the 1993 System of National Accounts. She then shows the UN approach to accounting applied to pollution, recycling, and the management of natural resources such as forests, minerals, and fisheries. The third section discusses how the accounts approach green GDP and other macroeconomic indicators. The book concludes by going beyond the UN structures to discuss other adjusted macroeconomic measures and how accounting data can be used to build them. National Environmental Accounting is a non-technical introduction to an increasingly important field. It is a must-read for anyone interested in how environmental accounts can help society move towards greater sustainability.
In order to really see the forest, what's the best way to count the trees? Understanding how the economy interacts with the environment has important implications for policy, regulatory, and business decisions. How should our national economic accounts recognize the increasing interest in and importance of the environment? Nature's Numbers responds to concerns about how the United States should make these measurements. The book recommends how to incorporate environmental and other non-market measures into the nation's income and product accounts. The panel explores alternative approaches to environmental accounting, including those used in other countries, and addresses thorny issues such as how to measure the stocks of natural resources and how to value non-market activities and assets. Specific applications to subsoil minerals, forests, and clean air show how the general principles can be applied. The analysis and insights provided in this book will be of interest to economists, policymakers, environmental advocates, economics faculty, businesses based on natural resources, and managers concerned with the role of the environment in our economic affairs.