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Augmented Sustainability Measures for Scotland

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  • John Pezzey
  • Nick Hanley
  • Karen Turner
  • Dugald Tinch

Abstract

We estimate and compare two empirical measures of the weak sustainability of an economy for the first time: the change in augmented green net national product (GNNP), and the interest on augmented genuine savings (GS). Yearly calculations are given for each measure for Scotland during 1992-99. Augmentation means including, using projections to 2020, production possibilities enabled by exogenous technical progress or changing terms of trade. In passing, we clarify the treatment of environmental expenditures in green accounting. The change in augmented GNNP and interest on augmented GS are both always positive, showing no sustainability problem for Scotland; but the former greatly exceeds the latter, showing an unresolved problem with the theory.

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Bibliographic Info

Paper provided by Business School - Economics, University of Glasgow in its series Working Papers with number 2003_11.

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Date of creation: May 2003
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Handle: RePEc:gla:glaewp:2003_11

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  1. Geir B. Asheim, 2002. "Green National Accounting for Welfare and Sustainability: A Taxonomy of Assumptions and Results," CESifo Working Paper Series 827, CESifo Group Munich.
  2. Weitzman, Martin L, 1997. " Sustainability and Technical Progress," Scandinavian Journal of Economics, Wiley Blackwell, vol. 99(1), pages 1-13, March.
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  6. Hamilton, Kirk & Atkinson, Giles, 1996. "Air pollution and green accounts," Energy Policy, Elsevier, vol. 24(7), pages 675-684, July.
  7. Hamilton, Kirk & Clemens, Michael, 1999. "Genuine Savings Rates in Developing Countries," World Bank Economic Review, World Bank Group, vol. 13(2), pages 333-56, May.
  8. Nicholas Crafts & Mary O'Mahony, 2001. "A perspective on UK productivity performance," Fiscal Studies, Institute for Fiscal Studies, vol. 22(3), pages 271-306, September.
  9. David Pearce, 2003. "The Social Cost of Carbon and its Policy Implications," Oxford Review of Economic Policy, Oxford University Press, vol. 19(3), pages 362-384.
  10. Withagen, C.A.A.M. & Vellinga, N., 1996. "On the concept of green national income," Open Access publications from Tilburg University urn:nbn:nl:ui:12-3107027, Tilburg University.
  11. Nick Hanley & Douglas MacMillan & Robert E. Wright & Craig Bullock & Ian Simpson & Dave Parsisson & Bob Crabtree, 1998. "Contingent Valuation Versus Choice Experiments: Estimating the Benefits of Environmentally Sensitive Areas in Scotland," Journal of Agricultural Economics, Wiley Blackwell, vol. 49(1), pages 1-15.
  12. Hamilton, Kirk, 1996. "Pollution and Pollution Abatement in the National Accounts," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 42(1), pages 13-33, March.
  13. Vincent, Jeffrey R. & Panayotou, Theodore & Hartwick, John M., 1997. "Resource Depletion and Sustainability in Small Open Economies," Journal of Environmental Economics and Management, Elsevier, vol. 33(3), pages 274-286, July.
  14. Hanley, Nick & Moffatt, Ian & Faichney, Robin & Wilson, Mike, 1999. "Measuring sustainability: A time series of alternative indicators for Scotland," Ecological Economics, Elsevier, vol. 28(1), pages 55-73, January.
  15. 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.
  16. Abdelhak Senhadji, 2000. "Sources of Economic Growth: An Extensive Growth Accounting Exercise," IMF Staff Papers, Palgrave Macmillan, vol. 47(1), pages 6.
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Cited by:
  1. Randall, Alan, 2008. "Is Australia on a sustainability path? Interpreting the clues," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 52(1), March.
  2. Greasley, David & Hanley, Nicholas & McLaughlin, Eoin & Oxley, Les & Warde, Paul, 2012. "Testing for long-run "sustainability": Genuine Savings estimates for B ritain, 1760-2000," Stirling Economics Discussion Papers 2012-05, University of Stirling, Division of Economics.
  3. Distaso, Alba, 2007. "Well-being and/or quality of life in EU countries through a multidimensional index of sustainability," Ecological Economics, Elsevier, vol. 64(1), pages 163-180, October.
  4. Giles Atkinson & Kirk Hamilton, 2007. "Progress along the path: evolving issues in the measurement of genuine saving," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 37(1), pages 43-61, May.

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