IDEAS home Printed from
   My bibliography  Save this paper

Using 'Inclusive Wealth' to Measure and Model Sustainable Development in Australia: A working example


  • Harris, Michael
  • Pearson, Leonie J.


Australia in 1992 adopted the National Strategy for Ecologically Sustainable Development to ensure all future development occurs in a 'sustainable' manner. Measurement of the nation's sustainable development is currently conducted through the OECD Environmental Performance Review and various other ad-hoc indicators or measures have been proposed, such as greening the national accounts (Green Gross National Product) and the Genuine Progress Indicator. No one has identified a clear and precise way to either measure or model sustainable development in Australia. By trialing the implementation of inclusive wealth theory in Australia, this paper aims to identify and comment on the issues of measuring and modelling sustainable development as a stock measure in Australia (measuring the change in composition of national assets over time). Conceptual issues of implementation will be discussed with examples provided from two trial regions Goulburn Broken Catchment (VIC) and Murrumbidgee Valley (NSW).

Suggested Citation

  • Harris, Michael & Pearson, Leonie J., 2004. "Using 'Inclusive Wealth' to Measure and Model Sustainable Development in Australia: A working example," 2004 Conference (48th), February 11-13, 2004, Melbourne, Australia 58457, Australian Agricultural and Resource Economics Society.
  • Handle: RePEc:ags:aare04:58457

    Download full text from publisher

    File URL:
    Download Restriction: no

    References listed on IDEAS

    1. Martin L. Weitzman, 1999. "Pricing the Limits to Growth from Minerals Depletion," The Quarterly Journal of Economics, Oxford University Press, vol. 114(2), pages 691-706.
    2. Kenneth Arrow & Partha Dasgupta & Karl-Göran Mäler, 2003. "Evaluating Projects and Assessing Sustainable Development in Imperfect Economies," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 26(4), pages 647-685, December.
    3. Hamilton, Kirk & Clemens, Michael, 1999. "Genuine Savings Rates in Developing Countries," World Bank Economic Review, World Bank Group, vol. 13(2), pages 333-356, May.
    4. Pearce, David & Hamilton, Kirk & Atkinson, Giles, 1996. "Measuring sustainable development: progress on indicators," Environment and Development Economics, Cambridge University Press, vol. 1(01), pages 85-101, February.
    5. Common, Mick & Sanyal, Kali, 1998. "Measuring the depreciation of Australia's non-renewable resources: a cautionary tale," Ecological Economics, Elsevier, vol. 26(1), pages 23-30, July.
    6. Ekins, Paul & Simon, Sandrine & Deutsch, Lisa & Folke, Carl & De Groot, Rudolf, 2003. "A framework for the practical application of the concepts of critical natural capital and strong sustainability," Ecological Economics, Elsevier, vol. 44(2-3), pages 165-185, March.
    7. Weitzman, Martin L, 1997. " Sustainability and Technical Progress," Scandinavian Journal of Economics, Wiley Blackwell, vol. 99(1), pages 1-13, March.
    Full references (including those not matched with items on IDEAS)


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:aare04:58457. 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). General contact details of provider: .

    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 CitEc recognized a reference but did not link an item in RePEc 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 RePEc Author Service 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.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.