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Environmentally adjusted multifactor productivity: Accounting for renewable natural resources and ecosystem services

Author

Listed:
  • Miguel Cárdenas Rodríguez
  • Florian Mante
  • Ivan Haščič
  • Adelaida Rojas Lleras

Abstract

Multifactor productivity is a comprehensive measure of productivity where the underlying production function accounts for multiple factor inputs, traditionally labour and produced capital. While single-factor productivity is intuitively simple, such measure offers a biased picture of the economy because it attributes all variation in output growth to a single factor input (e.g. consumption of fossil fuels or material resources) while the role of other factors is ignored. Multifactor productivity aims at addressing this shortcoming, and as such it is a valuable component of the OECD set of Green Growth headline indicators. This paper presents further progress in measuring the EAMFP and related growth accounting indicators in 52 countries for 1996-2018. An important novelty is the inclusion of renewable natural resources such as land, timber and fisheries, and ecosystem services such as coastal and watershed protection. Exploratory results on accounting for renewable energy resources are also included.

Suggested Citation

  • Miguel Cárdenas Rodríguez & Florian Mante & Ivan Haščič & Adelaida Rojas Lleras, 2023. "Environmentally adjusted multifactor productivity: Accounting for renewable natural resources and ecosystem services," OECD Green Growth Papers 2023/01, OECD Publishing.
    • Handle: RePEc:oec:envddd:2023/01-en
    DOI: 10.1787/9096211d-en
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    More about this item

    Keywords

    air pollution; costs; ecosystem services; environmental accounting; exhaustible resources; forest; fossil fuels; greenhouse gases; income; indicators; land; minerals; multifactor productivity; natural capital; pollution; prices; production; renewable energy; renewable resources;
    All these keywords.

    JEL classification:

    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • O44 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Environment and Growth
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • Q2 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation
    • Q3 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation
    • Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics
    • Q52 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Pollution Control Adoption and Costs; Distributional Effects; Employment Effects
    • Q53 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Air Pollution; Water Pollution; Noise; Hazardous Waste; Solid Waste; Recycling
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

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