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The Place of Nature in Economic Development

In: Handbook of Development Economics

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  • Dasgupta, Partha

Abstract

In this chapter both theory and empirics are used to show that our picture of the processes of economic development changes radically when nature is introduced as a capital asset. Particular features of institutions that fashion societies' use of the natural-resource base are identified and analyzed. It is also shown that conventional measures of human welfare are inadequate for identifying sustainable development.

Suggested Citation

  • Dasgupta, Partha, 2010. "The Place of Nature in Economic Development," Handbook of Development Economics, in: Dani Rodrik & Mark Rosenzweig (ed.), Handbook of Development Economics, edition 1, volume 5, chapter 0, pages 4977-5046, Elsevier.
    • Handle: RePEc:eee:devchp:v:5:y:2010:i:c:p:4977-5046
    DOI: 10.1016/B978-0-444-52944-2.00012-4
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    Cited by:

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    3. Cockburn, John & Duclos, Jean-Yves & Zabsonré, Agnès, 2014. "Is global social welfare increasing? A critical-level enquiry," Journal of Public Economics, Elsevier, vol. 118(C), pages 151-162.
    4. Toke S Aidt & Vitor Castro & Rodrigo Martins, 2016. "Shades of red and blue: Political ideology and sustainable development," Cambridge Working Papers in Economics 1635, Faculty of Economics, University of Cambridge.
    5. Partha Dasgupta, 2013. "The Nature of Economic Development and the Economic Development of Nature," Cambridge Working Papers in Economics 1349, Faculty of Economics, University of Cambridge.
    6. Hans-Jürgen Engelbrecht, 2015. "A General Model of the Innovation - Subjective Well-Being Nexus," Economic Complexity and Evolution, in: Andreas Pyka & John Foster (ed.), The Evolution of Economic and Innovation Systems, edition 127, pages 69-90, Springer.
    7. Sam, Aflaki & Syed Abul, Basher & Andrea, Masini, 2019. "Is your valley as green as it should be? Incorporating economic development into environmental performance indicators," MPRA Paper 97081, University Library of Munich, Germany.
    8. repec:hal:spmain:info:hdl:2441/eu4vqp9ompqllr09h95ckiqch is not listed on IDEAS
    9. Toke S. Aidt, 2011. "Corruption and Sustainable Development," Chapters, in: Susan Rose-Ackerman & Tina Søreide (ed.), International Handbook on the Economics of Corruption, Volume Two, chapter 1, Edward Elgar Publishing.
    10. Alexander Golub & Michael Toman, 2016. "Climate Change, Industrial Transformation, and “Environmental Growth Traps”," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 63(2), pages 249-263, February.
    11. Partha Dasgupta & Tapan Mitra & Gerhard Sorger, 2019. "Harvesting the Commons," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 72(3), pages 613-636, March.
    12. Golub, Alexander & Toman, Michael, 2014. "Climate change, industrial transformation, and"development traps"," Policy Research Working Paper Series 6951, The World Bank.
    13. Jack, B. Kelsey, 2017. "Environmental economics in developing countries: An introduction to the special issue," Journal of Environmental Economics and Management, Elsevier, vol. 86(C), pages 1-7.

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    More about this item

    Keywords

    sustainable development; wealth; externalities; common property resources; global public goods; climate change; social discount rates; environmental risks; shadow prices; natural capital;
    All these keywords.

    JEL classification:

    • D6 - Microeconomics - - Welfare Economics
    • H1 - Public Economics - - Structure and Scope of Government
    • I3 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
    • Q2 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation
    • Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics

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