James Roumasset () (Department of Economics, University of Hawaii at Manoa) Kimberly Burnett () (Department of Economics, University of Puget Sound) Hua Wang (World Bank)
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A central pillar of the sustainability movement is the call to include environmental accounting in standard measures of economic performance. This increased transparency would, in principle, mitigate the temptation of economic managers and policy makers to increase growth in material consumption at the expense of the environment. Moreover, as Repetto (1989) and others have argued, deducting depreciation of produced capital from NNP but not deducting depreciation of natural capital is inconsistent and debases NNP as a possible indicator of welfare. Based on the evidence available, it appears that while GNNP is substantially less than NNP, these adjustments do not adversely compromise existing estimates of economic growth for China.
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Paper provided by University of Hawaii at Manoa, Department of Economics in its series Working Papers with number
200723.
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