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Economic Growth and Liquidation of Natural Capital: The Case of Forest Clearance

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  • Robin Naidoo

Abstract

The importance of natural capital to economic systems is increasingly recognized. Previous empirical models of economic growth rates, however, have emphasized accumulation of physical and human capital. This paper shows that the economic growth of over 70 countries has been positively affected by liquidation of one aspect of natural capital, forests, while controlling for factors typically associated with national growth rates. The positive association was robust to additions of various covariates, such as forest exports, level of economic development, agricultural area, and geographical position. These results suggest that conversion of forests has partially fuelled the economic expansion of countries

Suggested Citation

  • Robin Naidoo, 2004. "Economic Growth and Liquidation of Natural Capital: The Case of Forest Clearance," Land Economics, University of Wisconsin Press, vol. 80(2), pages 194-208.
    • Handle: RePEc:uwp:landec:v:80:y:2004:i:2:p:194-208
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    Cited by:

    1. Xie, Mingting & Irfan, Muhammad & Razzaq, Asif & Dagar, Vishal, 2022. "Forest and mineral volatility and economic performance: Evidence from frequency domain causality approach for global data," Resources Policy, Elsevier, vol. 76(C).
    2. Vladislav N. Rutskiy & Ilia A. Filippov, 2022. "Relationship Between the Level of Poverty and the Factors of Green Economy in the Countries of the European Union," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 1, pages 56-70, February.
    3. Pendergast, Shannon M. & Clarke, Judith A. & van Kooten, G. Cornelis, 2008. "Corruption, Development and the Curse of Natural Resources," Working Papers 37913, University of Victoria, Resource Economics and Policy.
    4. Henk Folmer & G. Cornelis van Kooten, 2006. "Deforestation," Working Papers 2006-06, University of Victoria, Department of Economics, Resource Economics and Policy Analysis Research Group.
      • Folmer, Henk & van Kooten, G. Cornelis, 2006. "Deforestation," Working Papers 37035, University of Victoria, Resource Economics and Policy.
    5. Ollivier, Hélène, 2012. "Growth, deforestation and the efficiency of the REDD mechanism," Journal of Environmental Economics and Management, Elsevier, vol. 64(3), pages 312-327.
    6. Vladislav N. Rutskiy & Maria V. Osipenko, 2020. "Green Economy as a Labor Productivity Factor in the Manufacturing Industry of European Union Countries," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 4, pages 69-84, August.
    7. Mills, Julianne H. & Waite, Thomas A., 2009. "Economic prosperity, biodiversity conservation, and the environmental Kuznets curve," Ecological Economics, Elsevier, vol. 68(7), pages 2087-2095, May.
    8. Canares, Michael, 2009. "Macro-economic trends and their impacts on forests and forestry in Asia and the Pacific, outlook to 2020," MPRA Paper 28970, University Library of Munich, Germany.
    9. Sen Wang & C. Tyler DesRoches & Lili Sun & Brad Stennes & Bill Wilson & G. Cornelis van Kooten, 2007. "Linking Forests and Economic Well-being: A Four Quadrant Approach," Working Papers 2007-01, University of Victoria, Department of Economics, Resource Economics and Policy Analysis Research Group.
    10. Zoubida Mahcane & Mayou Abdellah & Mohamed Zergoune & Miloud Lacheheb, 2019. "Land Degradation and Economic Development in Algeria," International Journal of Energy Economics and Policy, Econjournals, vol. 9(1), pages 137-142.
    11. Petar Kurecic & Filip Kokotovic, 2017. "Examining the "Natural Resource Curse" and the Impact of Various Forms of Capital in Small Tourism and Natural Resource-Dependent Economies," Economies, MDPI, vol. 5(1), pages 1-24, February.

    More about this item

    JEL classification:

    • Q23 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Forestry

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