National account measures and sustainability objectives: present approaches and future prospects
A dominant objective within the public policies of all SE Asian countries has been the achievement of economic growth. The issue of sustainability has serious implications for this policy objective. Pursuit of economic growth is concerned solely with the present, whilst sustainability is concerned with ensuring the current generation meets its present needs without threatening future generations' ability to do likewise. National accounts, such as gross domestic product, can measure healthy economies, but they can not measure sustainability. This paper, however, sets out a conceptual approach that describes the misalignment of national accounting measures with sustainability objectives and provides empirical evidence of how this misalignment can be partially overcome. An empirical approach is developed whereby certain adjustments to national accounts, based on normative social choice theory, are introduced to indicate how a partial measure of sustainability can be determined using national accounting aggregates as a base. Copyright © 2005 John Wiley & Sons, Ltd and ERP Environment.
Volume (Year): 14 (2006)
Issue (Month): 4 ()
|Contact details of provider:|| Web page: http://onlinelibrary.wiley.com/journal/10.1002/(ISSN)1099-1719|
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.:
- Islam, Sardar M. N. & Munasinghe, Mohan & Clarke, Matthew, 2003. "Making long-term economic growth more sustainable: evaluating the costs and benefits," Ecological Economics, Elsevier, vol. 47(2-3), pages 149-166, December.
- Costanza, Robert & Patten, Bernard C., 1995. "Defining and predicting sustainability," Ecological Economics, Elsevier, vol. 15(3), pages 193-196, December.
- William D. Nordhaus & James Tobin, 1973.
"Is Growth Obsolete?,"
in: The Measurement of Economic and Social Performance, pages 509-564
National Bureau of Economic Research, Inc.
- 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.
- 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.
- Solow, Robert M, 1986. " On the Intergenerational Allocation of Natural Resources," Scandinavian Journal of Economics, Wiley Blackwell, vol. 88(1), pages 141-49.
- Munasinghe, M., 1993. "Environmental Economics and Sustainable Development," Papers 3, World Bank - The World Bank Environment Paper.
- Pezzey, J., 1992. "Sustainable Development Concepts; An Economic Analysis," Papers 2, World Bank - The World Bank Environment Paper.
When requesting a correction, please mention this item's handle: RePEc:wly:sustdv:v:14:y:2006:i:4:p:219-233. 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: (Wiley-Blackwell Digital Licensing)or (Christopher F. Baum)
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.