Monetary Green Accounting and Ecosystem Services
AbstractThe point of departure in this paper is that monetary green accounting aims at serving as indicator of wealth changes, sustainable use of natural capital, and performance of environmental policy. It is then investigated how wealth changes and sustainable development of natural capital can be estimated by means of ecosystem services. These services are defined as outputs from natural capital. The value of changes in natural capital, or wealth change, is thus measured as the value of impacts on current and future production of ecosystem services. It is then shown how this measure can be used as an indicator of sustainable use of the aggregate natural capital, and also how it can be applied efficient environmental policies. An empirical demonstration is made to the calculation of wealth changes to Swedish forests, agricultural landscape, wetlands, air quality, and coastal and marine ecosystems. The demonstration shows that the net welfare contribution from these natural capital assets during the period under study is positive, but that the use of the assets is unsustainable.
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Bibliographic InfoPaper provided by National Institute of Economic Research in its series Working Paper with number 86.
Length: 32 pages
Date of creation: 28 Jul 2003
Date of revision:
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Find related papers by JEL classification:
- D60 - Microeconomics - - Welfare Economics - - - General
- D90 - Microeconomics - - Intertemporal Choice and Growth - - - General
- O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
- Q20 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - General
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