Is Australia on a sustainability path? Interpreting the clues
Genuine savings is a conceptually valid one-sided indicator as to whether Australia is on a weak sustainability path (negative GS would warn that current welfare is unsustainable). The World Bank’s adjusted net savings (ANS) data summarise the available evidence, and by this indicator Australia is muddling along, at best. ANS misses some important pieces of the picture – net depletion of water, soil and biodiversity, and most kinds of pollution damage – and thus overstates Australia’s genuine savings performance. Weak sustainability can be promoted by getting the prices right, and piecemeal efforts are underway via regulatory approaches and resource/ environmental markets of various kinds. Nevertheless, particular resource problems – habitat conservation, biodiversity, climate change and dryland salinity – are likely to also require strong sustainability approaches. A sustainable future involves pushing weak sustainability as far as the body politic permits, invoking precautionary instruments for specific resource crises, and nurturing policy processes that encourage the consensus-building that will be necessary to get it done.
Volume (Year): 52 (2008)
Issue (Month): 1 (March)
|Contact details of provider:|| Postal: |
Phone: 0409 032 338
Web page: http://www.aares.info
More information through EDIRC
References listed on IDEAS
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.:
- Kirk Hamilton & John Hartwick, 2005. "Investing exhaustible resource rents and the path of consumption," Canadian Journal of Economics, Canadian Economics Association, vol. 38(2), pages 615-621, May.
- Kirk Hamilton, 1995. "Sustainable development, the Hartwick rule and optimal growth," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 5(4), pages 393-411, June.
- Cairns, Robert D., 2006. "On accounting for sustainable development and accounting for the environment," Resources Policy, Elsevier, vol. 31(4), pages 211-216, December.
- 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.
- John Hartwick, 1976. "Intergenerational Equity and the Investing of Rents from Exhaustible Resources," Working Papers 220, Queen's University, Department of Economics.
- Asheim,G.B. & Weitzman,M.L., 2001.
"Does NNP growth indicate welfare improvement?,"
02/2001, Oslo University, Department of Economics.
- Ferreira, Susana & Vincent, Jeffrey R, 2005. "Genuine Savings: Leading Indicator of Sustainable Development?," Economic Development and Cultural Change, University of Chicago Press, vol. 53(3), pages 737-54, April.
- Bjornlund, Henning & McKay, Jennifer, 2002. "Aspects of water markets for developing countries: experiences from Australia, Chile, and the US," Environment and Development Economics, Cambridge University Press, vol. 7(04), pages 769-795, October.
- Anton, Wilma Rose Q. & Deltas, George & Khanna, Madhu, 2002.
"Incentives for Environmental Self-Regulation and Implications for Environmental Performance,"
02-0120, University of Illinois at Urbana-Champaign, College of Business.
- Anton, W.R.Q.Wilma Rose Q. & Deltas, George & Khanna, Madhu, 2004. "Incentives for environmental self-regulation and implications for environmental performance," Journal of Environmental Economics and Management, Elsevier, vol. 48(1), pages 632-654, July.
- John C. V. Pezzey & Nick Hanley & Nick Hanley & Karen Turner & Dugald Tinch, 2003.
"Augmented Sustainability Measures for Scotland,"
Economics and Environment Network Working Papers
0302, Australian National University, Economics and Environment Network.
- John C. V. Pezzey & Nick Hanley & Karen Turner & Dugald Tinch, 2004. "Augmented Sustainability Measures for Scotland," Economics and Environment Network Working Papers 0404, Australian National University, Economics and Environment Network.
- John Pezzey & Nick Hanley & Karen Turner & Dugald Tinch, 2003. "Augmented Sustainability Measures for Scotland," Working Papers 2003_11, Business School - Economics, University of Glasgow.
- Dodo J. Thampapillai & Shandre M. Thangavelu, 2004. "Towards unitary economics: Valuation of environmental capital for environmental stewardship," International Journal of Social Economics, Emerald Group Publishing, vol. 31(4), pages 430-442, March.
- Mallick, Seeme & Sinden, J A & Thampapillai, D J, 2000. "The Relationship between Environmentally Sustainable Income, Employment and Wages in Australia," Australian Economic Papers, Wiley Blackwell, vol. 39(2), pages 231-44, June.
- Michael C. Farmer & Alan Randall, 1997. "Policies for Sustainability: Lessons from an Overlapping Generations Model," Land Economics, University of Wisconsin Press, vol. 73(4), pages 608-622.
- Gangadharan, L. & Maitra, P., 1998. "Trends in Natural Resource Commodity Prices in Australia," Department of Economics - Working Papers Series 646, The University of Melbourne.
- Peter Bardsley, 2003. "Missing Environmental Markets and the Design of," Department of Economics - Working Papers Series 891, The University of Melbourne.
- Harris, Michael & Fraser, Iain, 2002.
"Natural resource accounting in theory and practice: A critical assessment,"
Australian Journal of Agricultural and Resource Economics,
Australian Agricultural and Resource Economics Society, vol. 46(2), June.
- Harris, Michael & Fraser, Iain, 2001. "Natural Resource Accounting in Theory and Practive: A Critical Assessment," 2002 Conference (46th), February 13-15, 2002, Canberra 125106, Australian Agricultural and Resource Economics Society.
- Pannell, David J., 2001. "Dryland salinity: economic, scientific, social and policy dimensions," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 45(4), December.
- Richard P. C. Brown & John Asafu-Adjaye & Mirko Draca & Anna Straton, 2005. "How Useful Is the Genuine Savings Rate as a Sustainability Indicator for Regions within Countries? Australia and Queensland Compared," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 38(4), pages 370-388, December.
When requesting a correction, please mention this item's handle: RePEc:ags:aareaj:117742. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (AgEcon Search)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.