Criteria for Assessing Sustainable Development: Theoretical Issues and Empirical Evidence for the Case of Greece
AbstractWe formulate two kinds of sustainability criteria by using feedback and arbi- trary rules for selecting policy variables in non optimizing economies. We show that when policy variables are selected arbitrarily their accounting prices could determine sustainability in addition to the accounting prices of the economy’s assets. We use our theoretical framework to obtain es- timates of sustainability conditions in real economies. Thus, the paper’s contribution consists in developing a systematic theoretical framework for determining value functions, accounting prices and sustainability criteria, under fairly general non-optimizing behavioral rules, and then showing that this framework can be used in applied work to estimate sustainability con- ditions. Based on our theoretical model, we examined the case of the Greek economy. When there is no binding environmental policy then migration rate, growth of capital per worker and exogenous technical change are strong positive factors for sustainability. When we introduce potential environmen- tal damages due to sulphur dioxide (SO2) emissions, our …ndings indicate that these damages a¤ect negatively the sustainability criterion.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by University of Crete, Department of Economics in its series Working Papers with number 0511.
Length: 34 pages
Date of creation: 04 Apr 2005
Date of revision:
sustainability criteria; non-declining social welfare; accounting;
Other versions of this item:
- Anastasios Xepapadeas & Dimitra Vouvaki, 2005. "Criteria for Assessing Sustainable Development: Theoretical Issues and Empirical Evidence for the Case of Greece," Working Papers 2005.59, Fondazione Eni Enrico Mattei.
- Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
- O13 - Economic Development, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
This paper has been announced in the following NEP Reports:
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Hediger, Werner, 2000. "Sustainable development and social welfare," Ecological Economics, Elsevier, vol. 32(3), pages 481-492, March.
- Kenneth Arrow & Partha Dasgupta & Karl-Göran Mäler, 2003.
"Evaluating Projects and Assessing Sustainable Development in Imperfect Economies,"
Environmental & Resource Economics,
European Association of Environmental and Resource Economists, vol. 26(4), pages 647-685, December.
- Kenneth Arrow & Partha Dasgupta & Karl-Göran Mäler, 2003. "Evaluating Projects and Assessing Sustainable Development in Imperfect Economies," Working Papers 2003.109, Fondazione Eni Enrico Mattei.
- Jeff Frank & Philip Wrigley, 2001. "A Night at the Opera," World Economics, World Economics, Economic & Financial Publishing, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE, vol. 2(3), pages 167-176, July.
- Mankiw, N Gregory & Romer, David & Weil, David N, 1992.
"A Contribution to the Empirics of Economic Growth,"
The Quarterly Journal of Economics,
MIT Press, vol. 107(2), pages 407-37, May.
- John Hartwick, 1976.
"Intergenerational Equity and the Investing of Rents from Exhaustible Resources,"
220, Queen's University, Department of Economics.
- Hartwick, John M, 1977. "Intergenerational Equity and the Investing of Rents from Exhaustible Resources," American Economic Review, American Economic Association, vol. 67(5), pages 972-74, December.
- Pemberton, Malcolm & Ulph, David, 2001. " Measuring Income and Measuring Sustainability," Scandinavian Journal of Economics, Wiley Blackwell, vol. 103(1), pages 25-40, March.
- John C. V. Pezzey, 2001.
"Sustainability Policy and Environmental Policy,"
Economics and Environment Network Working Papers
0104, Australian National University, Economics and Environment Network.
- John C. V. Pezzey, 1997. "Sustainability Constraints versus "Optimality" versus Intertemporal Concern, and Axioms versus Data," Land Economics, University of Wisconsin Press, vol. 73(4), pages 448-466.
- Riley, John G., 1980. "The just rate of depletion of a natural resource," Journal of Environmental Economics and Management, Elsevier, vol. 7(4), pages 291-307, December.
- Pezzey, J., 1992. "Sustainable Development Concepts; An Economic Analysis," Papers 2, World Bank - The World Bank Environment Paper.
- Kenneth J. Arrow & Partha Dasgupta & Karl-Göran Mäler, 2003.
"The genuine savings criterion and the value of population,"
Springer, vol. 21(2), pages 217-225, 03.
- Arrow, Kenneth J. & Dasgupta, Partha & M�ler, Karl-G�ran, 2003. "The Genuine Savings Criterion and the Value of Population," Working paper 132, Regulation2point0.
- Asheim, Geir, 2003.
"Green national accounting with a changing population,"
06/2003, Oslo University, Department of Economics.
- Geir Asheim, 2004. "Green national accounting with a changing population," Economic Theory, Springer, vol. 23(3), pages 601-619, March.
- repec:reg:rpubli:132 is not listed on IDEAS
- Jorgenson, Dale W. & Wilcoxen, Peter J., 1993. "Energy the environment, and economic growth," Handbook of Natural Resource and Energy Economics, in: A. V. Kneese† & J. L. Sweeney (ed.), Handbook of Natural Resource and Energy Economics, edition 1, volume 3, chapter 27, pages 1267-1349 Elsevier.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Kostis Pigounakis).
If references are entirely missing, you can add them using this form.